abhishreshthaa
Abhijeet S
SWOT Analysis A Planning and Organizing Tool
Strength
Weakness
Opportunity
Threat
[]Strengths
Questions:
Weaknesses
Questions.
Opportunities and Threats
Questions on opportunities:
Questions on threats:
An opportunity could include:
A threat could be:
How and When to use SWOT Analysis:
More suggestions for using SWOT Analysis:
Expanding Your SWOT Analysis
Strength
Weakness
Opportunity
Threat
- Strengths and weaknesses are generally internal factors that are within your control.
- Opportunities and Threats are generally external issues that you can’t control.
[]Strengths
- Consider from both the view of the firm (product) as well as from customers and competitors
- Realistic and not modest
- One’s strength is another’s weakness
Questions:
- What are the firm’s or the product’s advantages over others?
- What does it do well? What makes it stand out from your competitors?
Weaknesses
- Be truthful so that weaknesses may be overcome as quickly as possible
- One’s strength is another’s weakness
Questions.
- What is done poorly?
- What can be improved?
- What should be avoided?
Opportunities and Threats
- external in nature
- Represent characteristics of:
- the research environment
- growth in potential markets
- changes in the competitive, economic, political/legal, technological, or socio-cultural environments
- A threat to some is an opportunity to another.
Questions on opportunities:
- Is there a product/service area that others have not yet covered?
- Are there emerging trends that fit with your company's strengths?
Questions on threats:
- Are your competitors becoming stronger?
- Are there emerging trends that amplify one of your weaknesses?
An opportunity could include:
- a new, developing or untapped market
- an old market needing technological advances
- a recent technological development that can be used as a catalyst for others (possibly through licensing)
- change in regulatory environment that creates demand for new technology
A threat could be:
- other ongoing research or commercialization efforts
- a large existing competitor
- market volatility (because we are new market entrants)
- market access (for supplies or customers)
- a competitor has a new, innovative product or service
- competitors have superior access to channels of distribution
How and When to use SWOT Analysis:
- SWOT analysis can be very subjective.
- Two people rarely come-up with the same final version of SWOT.
- Be realistic; no need to inflate strengths or be in denial about shortcomings.
- Distinguish between where your technology is today, and where it could be in the future.
- Be specific. Avoid grey areas.
- Always analyze in the context of your competitive environment.
More suggestions for using SWOT Analysis:
- Weaknesses should be looked at in order to convert them into strengths.
- Try to match your strengths with external opportunities.
- Threats should be converted into opportunities.
- Strengths and opportunities should be matched.
- Keep your SWOT short and simple.
- Do not rely on it too much.
Expanding Your SWOT Analysis
- Delve deeper into the details of the technology.
- Include more detailed competitor information in the analysis.
- Take a closer look at the business environment.
- Expand the reach of a SWOT analysis through surveys.