What is a SWOT Analysis?
A SWOT Analysis is a structured brainstorming and evaluation tool used to identify your internal Strengths and Weaknesses and external Opportunities and Threats. You can use a SWOT analysis prior to starting a business, to evaluate and grow your current business, prior to launching a new product, or to improve a system or process. You can also use it on a personal level to advance or change your career and improve your financial health.
Features of SWOT Analysis with Questionnaire Excel Dashboard
This SWOT analysis spreadsheet will help your analysis and discussion stay organized and efficient. There are a variety of layouts depending on your preference. They can be printed and filled out by hand, or you can display and edit the worksheet in real-time using a projector during your group discussion. The numbers for each area can be used to organize your team’s responses from most important to least. The “action items and goals” section helps you put your results into action.
The information, steps and suggestions listed below will help you use the SWOT analysis template effectively. The references listed at the bottom of the page (especially [1]-[4]) were useful to us in preparing this material, and may also help you learn more about how to apply a SWOT analysis effectively in your business.
Download SWOT Analysis Excel Templates and Tutorials
You can also explore other similar tutorials and excel templates on SWOT analysis to enhance your knowledge and get more ideas on doing it –
- SWOT Analysis for Beginners
- SWOT Analysis with Questionnaires
- Business Plan Idea Checklist (With SWOT Analysis)
- SWOT analysis Tutorial
S: Strengths (Internal)
Strengths are the key things you do well that give you an advantage over the competition. Continuing to remember, build upon and augment your strengths may help maintain a competitive advantage.
W: Weaknesses (Internal)
Weaknesses are the things you don’t do well, or as well as the competition, that may hinder your success and growth. Identifying your weaknesses will allow you to make goals to minimize/mitigate them, turn them into future strengths, and determine if they expose you to external threats.
O: Opportunities (External)
Opportunities are changes occurring externally to your business that you could take advantage of, such as changes in regulations, social changes, or new products that don’t currently exist. Opportunities help you identify areas where you can grow – where to focus your time and resources.
T: Threats (External)
Threats are any external factors that could have a negative impact, such as trends in the market and society or government regulations. These factors are likely out of your control, but your team should keep an eye on them and plan ways to mitigate their effects.
Keep in mind that Strengths and Weaknesses are internal, while Opportunities and Threats are external – confusing internal and external factors is a common confusion in a SWOT analysis. For example, an action you take to eliminate or improve a weakness is not an opportunity. It is simply an action that you will take related to your listed weakness.
To download similar SWOT analysis Templates and Dashboards, or to learn more:
