Overview
SWOT is a mnemonic to help you structure your thoughts as you evaluate the strengths and weaknesses of a product or service you provide, or that you may wish to provide in the future. SWOT analysis is one of the simplest forms of self-assessment.
The tool
SWOT stands for:
- Strengths
- Weaknesses
- Opportunities
- Threats
Strengths and weaknesses are generally considered from an internal perspective, while opportunities and threats relate to the external environment in which the organisation operates. By bringing these perspectives together, the tool can be used to match an organisation’s capabilities to its competitive environment.
Although SWOT analysis can be used in a wide range of circumstances, it is particularly useful when carrying out strategic planning activities because it allows you to think about the current situation of your service or the organisation in a structured way.
Visualising your SWOT analysis
Format 1
Format 2
Format 3
Strengths
The advantages of using SWOT analysis is that the tool is simple and quick to use, and it can be applied in many different circumstances.
Weaknesses
- Its simplicity may lead to superficial use, with anecdote and supposition being included in ‘analysis’ at the expense of rigour and evidence.