SWOT is the acronym which stands for Strengths, Weaknesses, Opportunities, and Threats. A swot analysis is usually performed to create strategic planning for any given business, product or service. The goal of swot analysis is to identify the strengths, weaknesses, opportunities, and threats for any businesses.
With this free swot analysis template, you’ll have a very simple and organized document in which you can define an objective and then use the analysis to determine what internal and external factors may support or hinder that objective.
Business Budget Template
Use for Excel, OpenOffice, and Google Sheets
Our swot analysis template is only one worksheet long. It’s very simple and super easy to use. This template is divided into two sections which are internal factors and external factors. At the very top of the sheet, you can add a summary of the internal factors. Right below that, you can add the strengths and weaknesses. Then comes the second section which is external factors. You can add the opportunities and threats in this sections. Right below that, you can add a summary of the external factors. And that’s pretty much it. Swot analysis is incredibly simple yet a powerful tool to analyze the scope of any business or organization. What makes SWOT particularly powerful is that, with a little thought, it can help you uncover opportunities that you are well-placed to exploit. And by understanding the weaknesses of your business, you can manage and eliminate threats that would otherwise catch you unawares.
A SWOT analysis is a great way to guide business-strategy meetings. It’s powerful to have everyone in the room to discuss the company’s core strengths and weaknesses and then move from there to define the opportunities and threats, and finally to brainstorming ideas. The SWOT method was originally developed for business and industry, but it is equally useful in the work of community health and development, education, and even for personal growth.
Remember that the purpose of performing a SWOT is to reveal positive forces that work together and potential problems that need to be recognized and possibly addressed. When determining each of the sections it is really important that the right questions are asked. A SWOT analysis that does not produce or help towards producing realistic and achievable goals is useless. Use SWOT analysis for business planning, strategic planning, competitor evaluation, marketing, business and product development, and research reports. You can also use SWOT analysis exercises for team building games.