Tool details
SWOT Analysis
A tool to understand the strengths, weaknesses, opportunities and threats your product/service is facing.
Tool category:
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When to use
At any moment and beginning of strategy.
Why you should
Get an overview of where you stand that allows you to create better strategies.
What you get
Get insights into what differentiates your product/service/ business and create strategies with them.
Steps to take
Draw a SWOT template, or download from the links below.
Define the strengths of your product/service/business. Characteristics that give the business or project an advantage over others.
Define the weaknesses of your product/service/business. Characteristics that place the business or project at a disadvantage relative to others.
Define the opportunities for your product/service/business. Elements that the project could exploit to its advantage.
Define the threats for your product/service/business. Elements in the environment that could cause trouble for the business or project.
Having filled in the template, analyse the areas that are worth focusing on, the ones that are better left alone and possible threats that need to be countered.
Further reading
Strengths and weaknesses are internal to your team, opportunities and threats are external to your team.
References & Links
