Typically viewed as a strategic planning tool, a SWOT analysis can be equally helpful in the early stages of a business and can help established companies stay on track for continued growth. In a SWOT analysis, factors that are internal to your business, such as key management personnel, are evaluated as strengths or weaknesses. You will want to nurture your strengths. Examples: recognized as market leader, adequate financial resources, strong management team, proprietary technology. Examples: cost disadvantage with competitors, weak market image, no clear strategic direction, lack managerial depth, outdated facilities. Examples: entry of strong competitor, increased regulation, change in customer buying preferences.
10+ Business Plan SWOT Analysis Template – PDF
SWOT Analysis Example Strengths Weaknesses Opportunities Threats
You may have heard of a SWOT analysis, which serves as an analytical tool to assess your company's business strategy. This simple tool can be used to assess a project, product, person, or place and test for viability and other factors. The following is a SWOT analysis example for a small business working on developing a marketing plan. The small business used in this example is a dog grooming business.
Your First Step Toward Business Growth: SWOT Analysis
Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker. Ever seen a marketing plan with SWOT analysis included? It may have confused you a bit. You may not see the importance of doing an entire analysis just for marketing.
SWOT analyses can be applied to an entire company or organization, or individual projects within a single department. Most commonly, SWOT analyses are used at the organizational level to determine how closely a business is aligned with its growth trajectories and success benchmarks, but they can also be used to ascertain how well a particular project — such as an online advertising campaign — is performing according to initial projections. It could also be your people, your literal human resources: strong leadership, or a great engineering team.