How to Use SWOT Analysis for Your Business

This article will give a brief overview of how to use SWOT Analysis to get better results from your business.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• A business
• Creativity and Vision for your business
• A business analyst unless you are one :)

1. SWOT is an acronym that stands for Strengths, Weaknesses, Opportunities, Threats.

2. When performing a SWOT Analysis you will use internal factors and external factors and analyze each.

3. Internal Factors are proprietary brands, company culture, distribution systems, image, market share, and other factors that make up the internal operations of the company.

4. External factors include competitors, economic trends, partners, regulatory concerns, and suppliers and any other external factors that affect the company.

5. Use your business analyst to find out which internal factor is a strength or weakness and which external factor is a opportunity or threat.

Tips & Warnings

• SWOT Analysis depends on management's creativity and vision for the company.
• Unless you are a business analyst or know how to analyze a business based on internal and external factors..please get a professional to do this for you that is what they get paid for.

Resources

• Trump University