A SWOT analysis is a tool that companies can use to assess an organization's strengths, weaknesses, opportunities, and threats. This can be done by looking at internal and external factors that may impact the organization. Internal factors include the organization's structure, culture, and resources. External factors could include things like the economic environment, political landscape, and competition.
What Are SWOT Strengths?
Some potential strengths (internal) that could be identified in a SWOT analysis include:
- A strong brand
- A loyal customer base
- A skilled and motivated workforce
- A diversified product portfolio
- A strong financial position
What Are SWOT Weaknesses?
Some potential weaknesses (internal) that could be identified in a SWOT analysis include:
- A dependence on a few key customers
- A narrow product range
- A weak financial position
- Poor customer service
- A poor reputation
What Are SWOT Opportunities?
Some potential opportunities (external) that could be identified in a SWOT analysis include:
- Entering new markets
- Developing new products or services
- Acquiring new customers
- Expanding the customer base
- Strengthening relationships with existing customers
What Are SWOT Threats?
Some potential threats (external) that could be identified in a SWOT analysis include:
- Competition from new or existing businesses
- Changes in technology
- Changes in the economic environment
- Changes in customer preferences
- Social or political unrest
- Natural disasters