- Levels: GCSE, AS, A Level
- Exam boards: AQA, Edexcel, OCR, IB
SWOT is commonly used as part of strategic planning and looks at:
- Internal strengths
- Internal weaknesses
- Opportunities in the external environment
- Threats in the external environment
SWOT analysis aims to discover:
- What the business does better than the competition
- What competitors do better
- Whether it is making the most of the opportunities available
- How a business should respond to changes in its external environment
The result of the analysis is a matrix of positive and negative factors for management to address:
The key point to remember about SWOT is that:
Strengths and weaknesses
- Are internal to the business
- Relate to the present situation
Opportunities and threats
- Are external to the business
- Relate to changes in the environment which will impact the business
Using SWOT analysis
There is no point producing a SWOT analysis unless it is actioned! SWOT analysis should be more than a list - it is an analytical technique to support strategic decisions
Strategy should be devised around strengths and opportunities
The key words are match and convert:
A key challenge for any business is to convert weaknesses into strengths. For example:
|Outdated technology||Acquire competitor with leading technology|
|Skills gap||Invest in training & more effective recruitment|
|Overdependence on a single product||Diversify the product portfolio by entering new markets|
|Poor quality||Invest in quality assurance|
|High fixed costs||Examine potential for outsourcing or offshoring|
Don’t forget that for every perceived threat, the same change presents an opportunity for business.
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