For small businesses, it is important to analyze all situations carefully before taking any decision. That way, there will be fewer chances of making mistakes and designing strategies that won’t work.
To help these businesses, several analytical tools are available, one of them being the SWOT Analysis. However, before you start using a SWOT Analysis template and check out SWOT analysis examples, it is important to understand what this analytical method is all about.
What SWOT Analysis is in simple words
What is SWOT Analysis? This analysis is used to list down favorable and unfavorable factors that go against a particular situation.
SWOT analyzes Strengths, Weaknesses, Opportunities and Threats that are associated with a situation by considering all the internal and external aspects of the business and market. This way, business managers can understand whether a situation has enough aspects in its favor and ultimately worth being pursued.
This assessment technique has a remarkable track record of success, providing almost accurate and extremely helpful insights to a business’ resources. To help you understand better how it works, it may be a good idea to look at some SWOT Analysis examples.
Here is an example of SWOT Analysis that was actually carried out by Dell in the mid 90’s to analyze its market position:
Try more general SWOT analysis examples
For more general SWOT Analysis examples, here is one with some general entries. You can let the factors relevant to your situation stay while removing and adding accordingly:
With these SWOT Analysis examples, you can easily understand how you can use this to analyze a business situation in a comprehensive way. After careful analysis, you can determine whether a new venture have enough positives in its favor to be pursued.