Discover and strategize your business's potential with our comprehensive workflow to create a SWOT Analysis Template, from initiation to implementation.
1
Identify the purpose of the SWOT analysis
2
Define the project or business to be analyzed
3
Gather a team for brainstorming sessions
4
Research and gather data about the business or project
5
Brainstorm and document the Strengths
6
Brainstorm and document the Weaknesses
7
Brainstorm and document the Opportunities
8
Brainstorm and document the Threats
9
Assess the significance and impact of each element
10
Organize and prioritize the data
11
Draft the SWOT analysis template
12
Approval: Drafted SWOT analysis template
13
Modify the draft based on feedback received
14
Prepare an action plan based on the SWOT analysis
15
Approval: Action Plan based on SWOT
16
Implement the action plan
17
Constantly review and update the SWOT analysis
18
Document the results and findings of the SWOT analysis
Identify the purpose of the SWOT analysis
Why are you conducting a SWOT analysis? What do you hope to achieve with it? How will it benefit the project or business? What are the key questions you want to address?
Define the project or business to be analyzed
What is the project or business you will be analyzing? Provide some brief background information.
Gather a team for brainstorming sessions
Who will be part of the team? How will you coordinate and schedule the brainstorming sessions? What resources or tools will be needed?
Research and gather data about the business or project
What sources will you use to gather data? How will you ensure the data is reliable and up-to-date?
1
Market research reports
2
Competitor analysis
3
Customer surveys
4
Financial statements
5
Industry publications
1
Cross-reference multiple sources
2
Conduct interviews with relevant stakeholders
3
Verify data through third-party experts
4
Check for consistency and accuracy
5
Update data regularly
Brainstorm and document the Strengths
What are the internal factors that give the project or business an advantage? What unique resources, capabilities, or competitive advantages does it possess?
1
Strong brand reputation
2
Skilled and motivated team
3
Well-established distribution network
4
High-quality products/services
5
Good financial position
Brainstorm and document the Weaknesses
What are the internal factors that put the project or business at a disadvantage? What areas need improvement or pose challenges?
1
Lack of brand recognition
2
Limited financial resources
3
Inefficient processes
4
Lack of experienced staff
5
Outdated technology
Brainstorm and document the Opportunities
What external factors or trends could positively impact the project or business? What potential growth areas or market trends should be considered?
1
Emerging markets
2
Advancements in technology
3
Changing consumer preferences
4
Strategic partnerships
5
Deregulation
Brainstorm and document the Threats
What external factors or trends could negatively impact the project or business? What potential risks or challenges should be considered?
1
Intense competition
2
Economic downturn
3
New regulations
4
Technological disruptions
5
Changing consumer behavior
Assess the significance and impact of each element
How significant or impactful are the identified strengths, weaknesses, opportunities, and threats? Rank them based on their importance and potential impact on the project or business.
1
High
2
Moderate
3
Low
4
Not applicable
Organize and prioritize the data
How will you structure and organize the data collected from the SWOT analysis? How will you prioritize the identified elements?
1
Create a table or matrix
2
Categorize by internal and external factors
3
Use a prioritization framework (e.g. Impact-Ease matrix)
4
Highlight key findings and insights
5
Summarize in a visually appealing format
Draft the SWOT analysis template
Use the gathered data to create the initial draft of the SWOT analysis template. Ensure it includes sections for each element (Strengths, Weaknesses, Opportunities, Threats) and provides space for details and analysis.
Approval: Drafted SWOT analysis template
Will be submitted for approval:
Draft the SWOT analysis template
Will be submitted
Modify the draft based on feedback received
Share the draft SWOT analysis template with relevant stakeholders for feedback. Incorporate their input and suggestions to improve the clarity, accuracy, and completeness of the analysis.
Prepare an action plan based on the SWOT analysis
What actions or strategies can be formulated based on the identified strengths, weaknesses, opportunities, and threats? How will you leverage the analysis to drive positive outcomes for the project or business?
Approval: Action Plan based on SWOT
Will be submitted for approval:
Prepare an action plan based on the SWOT analysis
Will be submitted
Implement the action plan
How will you execute the identified actions or strategies? Provide details on timelines, responsibilities, resources, and potential challenges.
Constantly review and update the SWOT analysis
How often will you review and update the SWOT analysis? What triggers or events should prompt a review? How will you ensure the analysis remains relevant and accurate over time?
1
Annually
2
Quarterly
3
Biannually
4
In response to significant changes
5
On request by stakeholders
Document the results and findings of the SWOT analysis
How will you document and communicate the final results and findings of the SWOT analysis? Who are the intended recipients and what format will be used?
