What is Swot analysis & How to Do a SWOT Analysis?

This strategic analysis is a popular framework used to give you all the details about your possible awareness factors. In this cutting-edge era, everyone is aware of SWOT analysis. This blog contains information about this strategic analysis, examples of swot analysis, and swot analysis templates.

What is swot analysis?

SWOT analysis is a strategic analysis that any company or organization uses to find its internal and external factors. Basically, this analysis is used by companies that want to make some alterations in a meaningful way. Swot contains two main factors:

1. Internal Factors
2. External Factors

Internal Factors

If any company needs to know their internal factors, like their strengths and weaknesses, they should perform this strategic analysis, and this will help them a lot.

External Factors

If any company needs to know their external factors, like their opportunities and threats, they should perform this strategic analysis, and this will help them a lot.

When companies want to start their strategic planning process, they simply perform this analysis. I hope this explains well what is SWOT analysis.

Examples of SWOT analysis

Let’s take a general examples of SWOT analysis of a company that provides SEO services to its customers. SWOT stands for strengths, weaknesses, opportunities, and threats. So, we take a tour of all the factors that a company contains. Like;

Strength: Their positive feedback and the points that customers like about us.

Weakness: some points that we need to improve, such as the point where we don’t stand in front of our competitors.

Opportunities: Take information about emerging technologies and grab clients where competition is low.

Threats: economic or political issues; what services our competitors provide

By staying focused on these four points, we can gain information about our company’s external and internal issues. A new technology emerges in a market, and your competitors are following it, but you haven’t yet. A new partnership or collaboration also lies in the examples of SWOT analysis.

SWOT analysis templates are an effective way to evaluate the factors. SWOT analysis templates contain four parts that may be divided horizontally, vertically, or most probably, strength and weakness are on top and threats and opportunities lie behind them. This SWOT analysis templates also plays a mind game with the creators. This is a strategic analysis. So, the owner will know all the external and internal factors that a company contains on one page. Therefore, he will evaluate easily with full understanding ability.

Reasons and Limitations of Swot Analysis

Swot analysis helps you in creating or modifying the new business plan and helps you decide which product will rock in the market and which product or service will not be useful in this marketplace. This analysis contains a simple list of all coming opportunities and issues, so it’s important to apply this analysis after some time to your organization for betterment.

Anything has some useful points, but on the other hand, it also has some disadvantages. Swot cannot review your product; they don’t tell you the exact issue; they will simply decide which product is working great nowadays. This analysis tool generates many ideas and information but doesn’t help you choose one of the best ideas, and some of their information doesn’t help sometimes.