Free printable and editable SWOT analysis template with step-by-step instructions on how to complete the analysis.

What is a SWOT analysis?

SWOT refers to a framework used in evaluating the competitive position of a business and developing strategic planning. In particular, when you conduct a SWOT analysis, you assess external and internal factors, and the future and current potentials of an organization. Therefore, a SWOT analysis is designed to facilitate a data-driven, fact-based and realistic look at the weaknesses and strengths of an organization.

What does SWOT stand for?

Strengths

Refers to activities that a business performs better, the advantages an organization might have over competitors, and the unique resources that a team possesses. These are internal factors.

Weaknesses

Refers to areas where a business can improve, areas the competitors might be performing better, and where an organization can use resources to boost productivity. These are internal factors.

Opportunities

Areas an organization can take advantage of. The areas can include any trends, new resources available, and the strengths that an organization has not adopted. However, opportunities are external factors since a firm cannot control them internally.

Threats

Threats refer to any issues that can negatively affect your business. You can easily get a sense of the threats to your business when you subject your business to market analysis.