SWOT Understanding SWOT Analysis

What’s Coming Up What is SWOT SWOT Overview Strengths Weaknesses Opportunities Threats Examples

What is SWOT SWOT is a business or strategic planning technique used to summarise the key components of your strategic environments.

Your Three Strategic Environments Your three strategic environments are Internal Environment External Environment

So, What is SWOT SWOT is a summary of your S trengths W eaknesses O pportunities T hreats Internal External

Strengths Strength Defined: A strength is a core capability of your business where your business have an advantage over your competitor(s), which your customers value i.e. you passed the better than your competitors test. You will find your strengths only when completing your internal analysis.internal analysis

Weaknesses Weakness Defined: A weakness is an internal core capability that makes up your business where your competitor(s) have an advantage over your business, which your customers value i.e. you failed the better than your competitors test.

Opportunities Opportunity Defined: An opportunity is an environmental condition in your external environment that can improve your organizations competitive position relative to that of your competitors.

Threats Threat Defined: A threat is a forecast environmental condition that is out of your control and has the potential to harm your businesses profitability.

Example - Strengths Tangible Strengths Your Voting Record Campaign Finances Supporters Intangible Strengths Strong public speaking skills Your reputation Experience Previous successes

Example - Weaknesses Tangible Weaknesses Your Voting Record Any “dirty” information known about you. Insufficient financial resources Intangible Weaknesses Weak name recognition Poor public speaking skills Lack of experience

Example - Opportunities Opportunities The people’s view of your party changing Weakness of other party Etc.

Example - Threats Threats People’s declining view of your party. Failing policies. etc.