SWOT analysis template or example, is basically a scientific tool used by companies and business to evaluate the strengths, weakness, opportunities and threads of industry. Other than that, this SWOT analysis example could be used as a business concept; thus, in simple words, we can also say that it’s use to develop good strategies for business to remain competitively aggressive for achieving the goals. So far in the sector of business where industries, organization, marketing and manufacture companies will be involved for driving a simple way to focus on all the areas where company can find the positive outcomes. The results of the SWOT analysis are typically prepared in a two-by-two table which shows the four dimensions for comparison. Apart from it, the table with four segments can be presented as data into information.
Importance of SWOT Analysis
No doubt, this analysis has strong history, as we can assume that it’s using since the 1960 and seemingly now in the modern world it still using as a precise component to evaluate the current status of the business, along with the aspects of the company that will show the future prospects and the economic climate. Moreover, the pivotal objective of this kind of analysis is to promote the critical and specific thinking that in some such way will not only enhance the strategic planning of company but also assist the project manger of company to set objectives and then run go through. Thankfully, this analysis has value when applied to the investigation of the structural operation of organizational, management, and marketing.
Details of SWOT Analysis
In like manner, this technique is realistic about the strengths and weaknesses of your organization. Despite the facts the one of the best ways to prepare your company for conducting a SWOT analysis is something which uses to distinguish between where your organization is today and where it could be in the coming future. Thankfully, the SWOT analysis example will help the business to set the inspirations. Once the SWOT analysis has been completed, we can consider that to get the most out of the SWOT, we have to make specific statements in each category of table. To all appearances, while showing the example, we can simply make a list for competitors as a threat where we shall include specific details about how our competitors are a threat for the growth of our business. Furthermore, here we can make a table of difference to be reviewed and determine whether the desired outcome is feasible or not. Here the management of a company or project manger may necessarily require focusing on strength, opportunity, as well as the statement which covers the idea of how to mitigate each weakness and threat.
Needs of Personal SWOT Analysis
Just like business, we do need personal SWOT analysis, not only self-evaluation but also to excel in personal skills. Having a personal SWOT analysis can help boost your confidence and make sure you can achieve certain set of accomplishments in personal as well as professional life. To understand the needs of personal SWOT analysis, underneath points are elaborated;
1- Educational Consulting: Before choosing the next field of your educational career, you will need to prepare your own personal SWOT analysis. It will help you to select the right field as per your skills and competency.
2- Selection of Job Career: After completion of education, it is time for every individual to select a career for the rest of life. It is very crucial step toward career selection and ones need to be very careful. Based on your own SWOT analysis, you can decide what kind of job or business you can choose.
3- Promotion Request While going for promotion recommendations, it is time to reconsider yourself. SWOT analysis helps you assess and compare yourself against other employees. You should have an absolute understanding of your set of strengths against your weaknesses and your competitors’ weaknesses, which can be your opportunities. This tool cannot sure your promotion exactly, but it will make sure you deserve promotion or not.
4- Job interview: You know your skills and therefore you can sense opportunities around you. Only you can take advantage of these opportunities because you know what kind of job you can accept. This also makes your resume perfect for any job and can bring a chance to consider yourself for an interview. Moreover, you can make changes in your resume accordingly to job requirements since you know about yourself.
5- Career Switch Sticking with one job can destroy self-motivation and career growth. Therefore, this analysis helps you to figure out whether your skills match the current job nature or not. Moreover, you can capitalize on the next opportunity when it comes to your attention. Career switching becomes very easy for those who know himself or herself.
Advantages of SWOT Analysis
As we already have discussed various benefits of SWOT analysis, here are more benefits which anyone can drive form it. These are given below;
1- Social Advantages: While on the job, you interact with different personal having different culture which makes your personality more social and helpful. This can have a great impact on your person skills since you know what you are and what social qualities you possess. Yet it helps organizations to decide whether or not an assignment is obtainable for you and enables management to set realistic achievable goals, objectives for you.
2- Organizational Advantages: Once you have gone through your SWOT analysis, this helps you to show your skills to your organization. Every organization knows their employees and they do realize which employees can be used for what sort of tasks. They select those employees for additional responsibilities which have additional skills and based on these qualities, they can set career growth goals. Every management looks visionary leader and these extra skills of any employee can highlight you. It helps organizations gather meaningful information in order to maximize their potential.
3- Individual Advantages: Self-confidence is very important for ones who need to grow either personally or professionally. SWOT analysis helps you boost your confidence and overcome your negative aspects. You can evaluate yourself by focusing on inter-personal skills and by answering your questions which you are seeking. By deeply understanding your threats, you can make yourself more competitive by looking at those areas where you are lacking. SWOT analysis lets you look objectively at your performance, to see what you can change it to get the desired results.
Limitation of SWOT Analysis
Apart from the countless benefits which you can drive from this tool, there are also limitations. A few are given below for your understanding;
1- False Interpretation: SWOT analysis can cause false interpretations of yourself because you are doing this and you can fool yourself easily. It is more likely a technique which is based on calculation and the data is provided by your. So, it can lead you to misrepresentation of data; thus false interpretation of personal skills.
2- Wrong Technique: Development of the SWOT analysis simply means defending yourself from upcoming threats, but if you evaluate yourself wrongly then the whole process becomes worthless. This technique requires 100% true to yourself, which is not possible.
3- Over Confidence: You can easily lie to yourself; however, this can lead to overconfidence. Being over-confident means, you are considering yourself worthy for a job where you cannot perform. Based on your self-constructed data, you can declare yourself confident, but if it is based on wrong perception then you are overestimating yourself, which can cost you too much.
