Strategic planning for business growth
SWOT analysis example
Guide
A SWOT (strengths, weaknesses, opportunities, threats) analysis can help you understand how your business is positioned in relation to the market and your competitors. You can use SWOT analysis for any of the following:
- brainstorming
- business planning
- strategic planning
- competitor evaluation
- marketing
- product development
- business reports
SWOT example: Internal factors to assess
Below is an example of a typical SWOT analysis with information and examples of what to include in the internal factors section.
| Strengths | Weaknesses |
|---|---|
| Strengths advantages of the proposition, product or business | Weaknesses disadvantages of the proposition, product or business |
| Strengths product capabilities | Weaknesses gaps in capabilities |
| Strengths competitive advantages over rivals | Weaknesses competitive weakness versus other similar businesses |
| Strengths innovative aspects of the product/business | Weaknesses outdated aspects of the product/business |
| Strengths any unique selling points | Weaknesses financial constraints |
| Strengths resources, assets, people | Weaknesses poor processes and systems |
| Strengths experience, knowledge, and data | Weaknesses lack of necessary accreditations |
| Strengths processes, systems, IT and communications | Weaknesses restrictions on IT, systems or communications |
Examples of strengths
- product is superior to other competitors
- product lifespan or durability
- costs - compared to competitors
- manufacturing processes are efficient
- IT system can easily handle expansion
Examples of weaknesses
- competitors' products are superior or cheaper
- budget is limited
- staff are untrained in new processes
SWOT example: External factors to assess
Below is an example of a typical SWOT analysis with information and examples of what to include in the external factors section.
| Opportunities | Threats |
|---|---|
| Opportunities market developments | Threats political factors |
| Opportunities competitors' vulnerabilities | Threats competitors |
| Opportunities geographical or export opportunities | Threats environmental pressure |
| Opportunities seasonal influences | Threats technological change |
| Opportunities current styles or trends | Threats legislative changes |
| Opportunities niche markets | Threats customer demand decrease |
Examples of opportunities
- poor products currently on the market
- potential market for your product or service overseas
Examples of potential threats
- changes of government or legislation
- competitors' product or service is at a more advanced stage
- increasing interest rates
Advantages of a SWOT analysis
SWOT analysis offers many benefits, including helping you to:
- understand the key issues affecting your business
- spot and deal with weaknesses
- minimise risks and deter threats
- capitalise on opportunities
- take advantage of your strengths
- develop business goals
- identify strategies for achieving your goals
SWOT analysis is typically also low- or no cost, and relatively quick and simple to carry out.
Read about other types of strategic planning models or see our PESTLE analysis example.