What is SWOT Analysis? How to Do It? Real Examples
What is SWOT analysis, what are the 4 elements? Full guide with real business examples. Template included.
What is SWOT analysis?
SWOT is a structured strategic framework to identify Strengths, Weaknesses, Opportunities and Threats of a company or project. Created at Stanford in the 1960s.
4 elements
S — Strengths (internal positive)
- Strong brand recognition
- Experienced team
- Patents/tech advantage
- Low cost structure
- Loyal customer base
W — Weaknesses (internal negative)
- High employee turnover
- Outdated tech
- Low capital
- Weak marketing
- Single-channel dependency
O — Opportunities (external positive)
- New market entry
- Weakening competitor
- New technology
- Government support
- Demographic shifts
T — Threats (external negative)
- New competitor entry
- Economic crisis
- Regulation changes
- Consumer behavior shifts
- Supply chain issues
How to create a SWOT
- Gather a team from different departments
- Draw 2x2 matrix
- Brainstorm 5-10 points per quadrant
- Prioritize top 3-4
- Develop strategies (SO, ST, WO, WT)