Toolkit: SWOT analysis
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The main purpose of SWOT analysis is to kickstart decision-making.
Just a reminder to keep a record of all the tools in the table below. As long as you can fill in all the cells of the table, you will be able to write a successful IA.
How to
SWOT analysis is an examination of an organisation’s internal strengths and weaknesses, as well as external opportunities and threats. SWOT is an acronym that combines the four components of this business tool: strengths, weaknesses, opportunities, threats.
Singular: analysis. Plural: analyses notanalysises.
SWOT analysis is a business tool that is used at the beginning of decision-making. It helps to see the big picture, to “get on the balcony”, to evaluate the risks, and eventually to kickstart decision-making. SWOT analysis does not finalise decision-making and needs to be interpreted, similar to STEEPLE analysis. More about how to interpret it — later. If you just prepare SWOT analysis without any interpretation, there will not be much value in it.
You will now read read about the four components of SWOT analysis (strengths, weaknesses, opportunities, threats) and see some examples. Keep in mind that SWOT components are not limited to these examples. It might be a good idea for you to extend the list of examples with a couple of extra items for each component.
Internal strengths are unique features of the organisation that differentiate it from competitors. Strengths might include but are not limited to:
- unique selling point (USP),
- retained earnings,
- brand awareness,
- core values,
- patents.