SWOT Analysis

A SWOT analysis is used to identify the strengths, weaknesses, opportunities, and threats of a particular business. It can also be used for all sorts of business situations. For example, a SWOT analysis can be used to assess an investment opportunity, potential partnership, new business ideas, products or brand, outsourcing opportunity, method of sales distribution, etc.

Strengths

Competitive advantage?
Product/services?
Resources, assets, people?
Leadership?
Management experience, knowledge?
Core competencies
Financial reserves?
Price, value, quality
Location
Culture, attitudes, behavior?

Weaknesses

Lack of a competitive strength?
Product/service?
Resources, assets, people?
Leadership?
Management experience, knowledge?
Lack of core competencies?
Financial constraints, cash flows?
Price, value, quality?
Location?
Culture, attitude, behavior?

Opportunities

Market development?
Competitor vulnerabilities?
Government regulations?
Industry or lifestyle trends?
Global influences?
New market, vertical/horizontal?
Niche target market?
New capabilities, technology?
Partnerships, distribution?
Volume, production, economies?
Seasonal, weather, fad?

Threats

Political?
Legislative?
Environmental?
New competitors?
New technology, services, ideas?
Market demand?
Supplier power?
Loss of key staff/management?
Seasonal, weather, fad?
Economy?
Financial constraints?

Once your SWOT analysis is complete, identify actions deriving from SWOT findings. Develop strategies to:

Maintain, build and leverage strengths.
Prioritize and optimize opportunities.
Remedy and reduce weaknesses.
Mitigate and counter threats.