How to use the SWOT analysis template

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Generally, SWOT analysis is a framework for considering the strengths and weaknesses classified in the internal environment, and the opportunities and threats classified in the external environment, by dividing them into positive and negative factors.




In a SWOT analysis, you bolivia cell phone number list use the template shown above to analyze your company's products and services from four perspectives (strengths, weaknesses, opportunities, and threats).

We will explain the key points to consider when analyzing each of the four elements (strengths, weaknesses, opportunities, and threats), as well as specific examples and how to use them.



Strength

Strengths are positive factors in the internal environment, and include specific examples of the advantages of your company's products and services and the ways in which they differentiate you from your competitors.

Examples of strengths include the high technical skills of your employees, your extensive track record, and your award history.



Weakness

Weaknesses are negative factors in the internal environment, and they specifically describe the shortcomings of your company's products or services, as well as the areas in which they are inferior to those of other companies.

Specific examples of weaknesses include low awareness and low budget.



Opportunity

Opportunity: A positive factor in the external environment, a change in the environment or a business opportunity that is beneficial to your company.

Specific examples of opportunities include economic recovery within the industry and increased consumer spending.



Threat

A threat is a negative factor in the external environment, such as a change in the environment that a company cannot deal with using its strengths alone.

Specific examples include a shrinking market and a worsening economy due to a declining domestic population.

Of the above frameworks, the internal environment can be controlled within the company, but it is important to understand that the external environment is an element that cannot be controlled by the company alone.




We will explain how to do a cross SWOT analysis. We will explain the cross SWOT analysis in detail, so it is a good idea to do it while comparing it with your own company. There are three methods as follows.

Conduct a SWOT analysis
Multiplying SWOT Analysis
Decide on your marketing strategy


Conduct a SWOT analysis


To conduct a cross SWOT analysis, you must first conduct a SWOT analysis.

Cross SWOT analysis is a framework that uses a method of combining the four items clarified in SWOT analysis - strengths, weaknesses, opportunities, and threats - in order to clarify the strategy that should be implemented.



Multiplying SWOT Analysis


When combining strengths and opportunities, it is called the "SO Strategy (Strength/Opportuity)", when combining weaknesses and opportunities, it is called the "WO Strategy (Weakness/Opportuity)", when combining strengths and threats, it is called the "ST Strategy (Strength/Threat)", and when combining weaknesses and threats, it is called the "WT Strategy (Weakness/Threat)".

We will explain how to plan each strategy, its key points, and how to use it.



SO Strategy

It is a method that utilizes positive factors in the internal and external environments, and maximizes the strengths of your company, its products and services by creating business opportunities.

It can be used to differentiate and gain an advantage over competitors, or to develop your own unique business.



ST Strategy

This is a method of combining positive factors from the internal environment with negative factors from the external environment.

With this strategy, it is important to think about how to utilize your company's strengths to overcome threats that are beyond your company's control.



WO Strategy

This is a method of combining negative factors from the internal environment with positive factors from the external environment.

The key to this strategy is thinking about how to improve your company's weaknesses in order to catch up on business opportunities that are occurring in society.



WT Strategy

This is a method of combining negative factors from the internal and external environments.

It is important to imagine the worst-case scenario that could occur when your company's weaknesses and threats in the external environment overlap, and then think of a strategy to avoid that.