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BA Techniques: SWOT Analysis

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Purpose:
SWOT Analysis is a simple yet effective tool used to evaluate an organizations strengths, weakness, opportunities, and threats to both internal and external conditions.
Business Analysis Body of Knowledge® (BABOK®)
The term SWOT Analysis was invented in 1960 by a Management Consultant named Albert Humphrey at Stanford Research Institute. Many companies needed a way to produce a long term planning that was executable and reasonable. Humphrey and his research team proposed the SWOT model to bring accountability and objectivity for the planning process. Albert Humphrey performed SWOT analysis on specific criteria such as products, process, customers, distribution, finance and administration. SWOT Analysis can be done in high level or low level, and it will help the creator to pin point both the internal and external factors. By making the inquiry more specific, you will find the weakness in the project plan, budget, and the goals that have to be achieved.

A SWOT Analysis is a visual studio that can be used to identify specific strengths and weakness. It helps for the decision making and planning of the project ahead. It is formed by a two-by-two grid, each quadrant has the subject related to strengths, weakness, opportunities and threats. SWOT Analysis tools will help the users to understand the internal and the external factors that affect their companies success. It has a simple quadrant layout to quickly and efficiently identify and present the key market findings. It enables their contributors to critically examine their circumstances and find out the obstacles to overcome. It is often used as a part of strategic planning process. It is a process that generates information which is useful in matching an organizations goals, programs, and capacities to the social environment in which it operates.

Some of the articles related to SWOT Analysis techniques are as follows,

 SWOT Analysis: A Theoretical Review - https://www.researchgate.net/publication/319367788_SWOT_ANALYSIS_A_THEORETICAL_REVIEW
 SWOT Analysis: Research - https://www.researchgate.net/publication/272353031_SWOT_Analysis
 SWOT Analysis for System Business Management - https://academicjournals.org/article/article1380639652_Ommani.pdf
 A Strategic Tool for Achieving Objectives - https://www.cio.com/article/3328853/swot-analysis-defined.html
 Understanding of SWOT Analysis - http://effecta.com.au/wp-content/uploads/2010/07/Understanding-of-SWOT-Analysis.pdf
 Performance Analysis Based SWOT Analysis - https://eprints.soton.ac.uk/394441/2/elsarticle-template.pdf
 SWOT Analysis for Business Plan Tool - http://www.businessplantool.org/Dokumenti/SWOT%20analysis.pdf
 Importance of SWOT Analysis - https://bizfluent.com/about-5377992-importance-swot-analysis.html
 Identification of SWOT Analysis - http://agrilifecdn.tamu.edu/econ/files/2013/03/SWOT-Analysis.pdf
 SWOT - https://jobtalk.indiana.edu/Articles/hrm/SWOTanalysis.pdf
 Conducting SWOT Analysis - https://www.managersresourcehandbook.com/how-a-swot-evaluation-can-help-your-business/
 Exploring the SWOT Analysis - https://www.emerald.com/insight/content/doi/10.1108/17554251011064837/full/html
 Aggregating the SWOT Analysis - https://www.frontiersin.org/articles/10.3389/fenrg.2018.00138/full
 Discovering SWOT Analysis - https://scholars.fhsu.edu/cgi/viewcontent.cgi?article=1666&context=alj
 SWOT Analysis: A Comparative Study - https://www.pulsus.com/scholarly-articles/strengths-weaknesses-opportunities-and-threats-swot-analysis-ofmaternity-nursing-course-a-comparative-study.pdf
 SWOT Analysis Case Study - https://pdfs.semanticscholar.org/d9da/2b12be197634ab6ac0b9903a3c43e717beec.pdf
 Looking of SWOT Analysis Outside the World - https://bcc.ime.usp.br/tccs/2012/felipe+geraldo/Site/pcs2590/HBR_Swot_Analysis_I_Threats_and_Opportunities.pdf
 SWOT Analysis from a Resource Based View - https://www.tandfonline.com/doi/abs/10.1080/10696679.2001.11501891
 SWOT Analysis: A Management Fashion Perspective - https://pdfs.semanticscholar.org/a4b3/5c26ee95298f47e99c6c3484e453a447abc7.pdf

The SWOT stands for Strengths, Weakness, opportunities, and Threats for creating a new business or developing the existing business. The SWOT Analysis template provides the basic two-by-two grid layout for an easy to read the views of the analysis. It applies the process of competitor analysis, that is allowing you to compare your business with other companies. It gives the detailed description of the business strengths and weakness, identify the competitors that create threats to the business, and the opportunities to improve the business. Strengths are the things that the organization is doing well in a specific manner. Weakness are the things that the organization has to improve to make a profit of the business. Opportunities are the openings or chances to enhance the business into next level. Threats are the problems that affect the business from outside competitors.

Some of the tools used in the industry for SWOT Analysis are,

  • Smart Sheet
  • Mind Tools
  • Creately
  • Canva
  • Grapholite
  • WikiWealth SWOT Analysis Generator
  • IvoryResearch SWOT Analysis Generator
  • G Suite

Some of the books and magazines for SWOT Analysis techniques,

Written by Bharath Ravi

Business Consultant whose qualification includes a Bachelor’s degree in the field of Mechanical specialized in Automobile & Manufacturing; Trained in Certified Supply Chain Professional (CSCP) Certification, Hands on Foundation Certificate in Business Analysis, BCS (UK) and Certified Professional for Requirements Engineering (CPRE-FL).

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