SWOT Analysis Diagram

By | March 31, 2015

SWOT stands for Strengths, weaknesses, opportunities and threats and it is a perfect business planning model for each kind of company. This analysis can be used in any kind of decision making process either you run a for-profit organization or non-profit corporation. In simple words, this analysis is done for new products that one wants to introduce in the market.

This way we can say that this is more of a marketing tool than a business running strategy. With SWOT analysis, you get to know your strengths, the weaknesses of your competitors, possible opportunities for your company in the market and potential threats from your competitors.

You can also say that with SWOT analysis, you understand what you should say to your potential buyers in your marketing campaign and with this analysis, you get enough help to answer the two most critical questions asked by the buyers including; what makes you different from others and why buyers should switch to your product.

Importance of SWOT Analysis:

There are hundreds of reasons why the SWOT analysis is so important in the business world and why companies are using this technique for regular basis but here we will discuss only a few of them. First of all, the most important thing about SWOT analysis is that this is free of cost. Any person who understands your business and its operations can conduct this analysis in the market and as you know that this analysis includes the reviews and suggestions from the potential buyers too, this means you don’t need to pay anything to the participants in your study.

Secondly, another best thing about SWOT analysis is that this technique can be implemented in any kind of situation with as much or as less time as you have. For example, you have a meeting coming up in 2 days and you don’t have much time to conduct a full analysis or market research, you go with SWOT analysis that can be done overnight. It will just require a person who understands your business and its operations in a better way.

Application of SWOT Analysis in Business:

It is a common mistake or misunderstanding that people always assume SWOT analysis is only for the companies and organizations that work for profit where in reality, the usefulness of SWOT analysis doesn’t keep it limited to be used in non-profit organizations either. It doesn’t matter what kind of business you run or what products you offer, you can always use SWOT analysis in any kind of decision making process. Moreover, this analysis is not only for businesses but government agencies, non-profit organizations and even individuals can use this analysis for making decisions on regular basis.

Here is a list of the possible applications or uses of SWOT analysis for your business:

  • Decision making
  • Brainstorming
  • Strategic planning
  • Strength building
  • Understanding the behavior of the market
  • Minimizing the risks and weaknesses
  • Seizing opportunities
  • Counteracting possible future threats
  • Addressing to individual issues in your company and in the market

Here is preview of a Free Sample SWOT Analysis Diagram created using MS Word,

SWOT Analysis Diagram

Here is download link for this SWOT Analysis Diagram,
Download SWOT Analysis Diagram 

Related Word Templates

  • Value Chain Analysis DiagramValue Chain Analysis Diagram Value chain analysis diagram is a corporate tool or technique that makes sure that you have your eye on all the elements in the market that matters for you and your company. This also includes the products or services that you offer to your customers. In simple words, this is a tool that provides the ways or points where improvements are vital to make inside your company either it’s a […]
  • PEST Analysis DiagramPEST Analysis Diagram PEST is a word with for alphabets and in this word; each alphabet stands for a unique and important market research tool. This includes political, economic, social and technological. As a business owner, you can understand that it is really important to research before you invest your money in any project. To do so, whenever a company wants to start a new product or make big changes to […]
  • Gap Analysis DiagramGap Analysis Diagram Some people find it quite difficult to understand the gap analysis where in reality, it is not that hard. If you can’t understand this concept from business perspective, you should understand the word “gap” in general means. You know that gap means the difference between two points or two objects and it is the same meaning that gap analysis carries. This is the process that is […]
  • Root Cause Analysis Diagram TemplateRoot Cause Analysis Diagram Template Root cause analysis diagram which is also known as fishbone diagram, Ishikawa diagram or cause and effect diagram is a graphical representation of all the root causes behind a problem in a business. Companies and organizations use this diagram in order to find out the real causes behind a problem and to eliminate the problem for long terms. When there is a problem in a business, it is […]
  • Relationship DiagramRelationship Diagram A relations diagram which is also known as ER diagram or entity relationship diagram is a commonly used technique in businesses and companies. This is a graphical representation of different entities and relationships between them. Most of the time, this diagram model is used in computing and programming in which it is used to sort out or organize the data in the database and the […]
  • Porter’s Five Force Diagram TemplatePorter’s Five Force Diagram Template Porter’s five force diagram is a simple but very important tool for analyzing the market for new and existing companies. If you want to research in the market to find out how much power your company has over the suppliers, buyers and competitors, this technique is here to help you out. Importance of Porter’s Five Force Diagram: Supplier power: At this point of this diagram or […]
  • PERT Chart TemplatePERT Chart Template PERT which stands for Program Evaluation Review Technique is a business or organizational tool that is used for managing the projects and steps included in order to complete the project. There are many tools and steps included in a PERT chart but most importantly; it includes scheduling, coordinating and organizing the different steps of a project. In simple words, a PERT chart is a […]
  • Strategy Plan TemplateStrategy Plan Template Strategy can be defined in many ways but in business world, it is a plan, a way, a method or a clear direction towards achieving the goals that an organization has defined earlier. You know that every business and both types of organizations (profitable and non-profitable) work on plans and goals which can vary with respect to each different company. For example, a paper company has […]
  • Decision Tree DiagramsDecision Tree Diagrams A Decision Tree Diagram is a graphical representation of all the facts, scenarios and results as well as the choices that one has. This is a tree shaped representation that has branches and each branch represents a separate scenario along with the results and possible outcomes in the future. This not only gives more accurate figures about each choice in the decision making process but […]
  • The Work Breakdown Structure TemplateThe Work Breakdown Structure Template WBS or Work Breakdown Structure is a business or corporation technique used in companies and organizations to execute projects. This is a commonly used technique for planning and organizing the tasks and steps included in a project. Project managers use this technique in order to foresee the results and effects of a project after a certain time in future along with estimating the […]