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 |
|---|---|
| advantages of the proposition, product or business | disadvantages of the proposition, product or business |
| product capabilities | gaps in capabilities |
| competitive advantages over rivals | competitive weakness versus other similar businesses |
| innovative aspects of the product/business | outdated aspects of the product/business |
| any unique selling points | financial constraints |
| resources, assets, people | poor processes and systems |
| experience, knowledge, and data | lack of necessary accreditations |
| processes, systems, IT and communications | 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 |
|---|---|
| market developments | political factors |
| competitors' vulnerabilities | competitors |
| geographical or export opportunities | environmental pressure |
| seasonal influences | technological change |
| current styles or trends | legislative changes |
| niche markets | 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.