August 28th, 2012
The SWOT Analysis (Strengths – Weaknesses – Opportunities – Threats) has been around for a long time as a way to take a critical look at your own company. Strengths and weaknesses are internally focused… opportunities and threats are for looking outward.
What you do is think about your own firm in terms of each of the four categories: “What are our strengths?”, “What are our weaknesses?” and so on. In those answers could be ideas for helping you to move your company forward. Not a bad process.
But even though it’s “old school,” with a few tweaks, the SWOT Analysis can continue to play a valuable role in helping to look deep inside your firm to find your competitive advantage(s) and market position to help drive future success.