Business
50
December | 2021
9. Do a SWOT Analysis
A SWOT analysis is a strategic planning tool that helps a
business identify its strengths and weaknesses as well as
any opportunities and threats that may exist in a specific
business situation. is can be fun and very enlightening!
A SWOT matrix is usually depicted as a square divided
into four quadrants. Each quadrant represents one
element of the SWOT analysis: Strengths, Weaknesses,
Opportunities, reats.
Strengths: For this quadrant, think about your and
your business's attributes that will help you achieve your
objectives. Questions to consider :
• What do you do well?
• What are your unique skills?
• What expert or specialized knowledge do you have?
• What experience do you have?
• What do you do better than your competitors?
• What are the most profitable areas/segments
of your business?
Weaknesses: For this quadrant, think about your
and your business's attributes that could hurt your progress
in achieving your objectives. Questions to consider :
• In what areas do you need to improve?
• What resources do you lack?
• What segments of your business are not profitable?
