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Aspects of a SWOT analysis

Posted by Mark Hobart on Dec 19, 2014 2:30:00 PM

One of the most helpful tools that can be used to understand your organisation is the SWOT analysis. SWOT is an acronym for strengths, weaknesses, opportunities, and threats.

 

aspects of a swot analysis

 

This framework considers the external and internal influences that could impact upon your organisations position and performance.

The SWOT analysis headings provide a good basis for reviewing strategy, position, and direction. The SWOT analysis should be linked to your organisations aims and objectives. 


The importance of a SWOT analysis is that it can:


• Help support business decisions,
• Help with strategic planning,
• Bring weaknesses to light,
• Highlight strengths that can be utilised.

Factors to consider:

Strengths - Internal characteristics of the organisation that give it an advantage over competitors.

Weaknesses - Internal characteristics that place the organisation at a disadvantage relative to competitors.

Opportunities - External possibilities to improve performance in the environment.

Threats - External elements in the environment that could negatively affect the organisation.

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Topics: Performance management, People Management, Business Intelligence

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