What is a SWOT analysis?
Posted: Sun Dec 15, 2024 8:02 am
The SWOT analysis is perhaps one of the techniques that has remained over time as an evaluation or research tool. Its acronym refers to: Weaknesses, Threats, Strengths and Opportunities.
It is quite common for anyone who has worked in digital marketing or within a digital marketing agency , it is also well known by those who studied social communication or human resources.
It is quite simple, easy to do and provides good results when it iran phone number data comes to knowing the current status of a brand or making decisions to be made in the future.
The important thing here and perhaps the key to doing it correctly is to be very objective, realistic and clearly understand what a strength, a threat, a weakness or an opportunity really is.
Some people divide these characteristics into internal and external in order to better clarify the 4 sections. Considered in this way, strengths and weaknesses are internal and threats and opportunities are external.
This means that the company can work on its strengths and weaknesses from within. However, it cannot control threats and opportunities 100% because these depend on external agents.
Let's dig a little deeper into each of these parts with some examples.
1 Examples of a SWOT analysis
1.1 1. Weaknesses
1.2 2. Threats
1.3 3. Strengths
1.4 4. Opportunities
2 Types of SWOT matrix
Examples of a SWOT analysis1. Weaknesses
Within these, we will mention all those elements, situations or lack of resources that a company has internally. For example:
● Little human capital
● Low budget to invest
● There is no follow-up on tasks
● Unfavorable geographical location
● Slow production times
With these examples we can see that these are all things that the company can solve. It is up to them to obtain more human capital, make investments that generate a greater return to be self-sustaining, and appoint a person responsible for monitoring tasks.
Even getting a better location is an internal task for the company, even if it seems like something external. There are millions of options outside, but the change really depends on the time, effort and money that the company invests in it.
Likewise, production times, which are surely affected by the lack of staff, will see improvements in others by solving one point.
2. Threats
In the case of threats, although they have a negative connotation like weaknesses, the company does not have control over them as such. A great and very current example is the COVID-19 pandemic.
Other examples may be:
● Delays in distributors' times
● Problems when legalizing documents or procedures
● Increase in raw material costs
● A lot of competition within the sector
Here we see aspects that are beyond the company's control and to which it must adapt. However, it is important to have action plans to be better prepared against any possible threat.
This is exactly why a SWOT analysis is performed, so that you can have a contingency plan and be prepared to deal with threats with the least possible damage.
Likewise, it must be taken into account that just as no one was prepared for something as big as a global pandemic, it is difficult to be sure that you will be able to cover any threat. But if you have some aces up your sleeve, it will undoubtedly be easier to face any adversities that may arise.
It is quite common for anyone who has worked in digital marketing or within a digital marketing agency , it is also well known by those who studied social communication or human resources.
It is quite simple, easy to do and provides good results when it iran phone number data comes to knowing the current status of a brand or making decisions to be made in the future.
The important thing here and perhaps the key to doing it correctly is to be very objective, realistic and clearly understand what a strength, a threat, a weakness or an opportunity really is.
Some people divide these characteristics into internal and external in order to better clarify the 4 sections. Considered in this way, strengths and weaknesses are internal and threats and opportunities are external.
This means that the company can work on its strengths and weaknesses from within. However, it cannot control threats and opportunities 100% because these depend on external agents.
Let's dig a little deeper into each of these parts with some examples.
1 Examples of a SWOT analysis
1.1 1. Weaknesses
1.2 2. Threats
1.3 3. Strengths
1.4 4. Opportunities
2 Types of SWOT matrix
Examples of a SWOT analysis1. Weaknesses
Within these, we will mention all those elements, situations or lack of resources that a company has internally. For example:
● Little human capital
● Low budget to invest
● There is no follow-up on tasks
● Unfavorable geographical location
● Slow production times
With these examples we can see that these are all things that the company can solve. It is up to them to obtain more human capital, make investments that generate a greater return to be self-sustaining, and appoint a person responsible for monitoring tasks.
Even getting a better location is an internal task for the company, even if it seems like something external. There are millions of options outside, but the change really depends on the time, effort and money that the company invests in it.
Likewise, production times, which are surely affected by the lack of staff, will see improvements in others by solving one point.
2. Threats
In the case of threats, although they have a negative connotation like weaknesses, the company does not have control over them as such. A great and very current example is the COVID-19 pandemic.
Other examples may be:
● Delays in distributors' times
● Problems when legalizing documents or procedures
● Increase in raw material costs
● A lot of competition within the sector
Here we see aspects that are beyond the company's control and to which it must adapt. However, it is important to have action plans to be better prepared against any possible threat.
This is exactly why a SWOT analysis is performed, so that you can have a contingency plan and be prepared to deal with threats with the least possible damage.
Likewise, it must be taken into account that just as no one was prepared for something as big as a global pandemic, it is difficult to be sure that you will be able to cover any threat. But if you have some aces up your sleeve, it will undoubtedly be easier to face any adversities that may arise.