It’s a good technique to help everyone gain a common understanding of the state of being. The 2×2 matrix is useful for developing a quick view of the business or situational context, and RedYabber’s SWOT analysis example above does just this. There is no indication of options and priorities.The lists may not be complete, as they are typically derived from “brainstorming” sessions and there is no way to test for coverage.It is a point-in-time view and cannot show how things change over time.It can be used to analyze a business, function, project, problem, or almost anything. SWOT is versatile and applicable to any situation – not just in strategic planning. It’s just one of many techniques that can provide input to the development of a strategic vision, strategic goals or plans.
Good analysis of the strengths, weaknesses, opportunities and threats is useful input to the strategic planning process, but it should not represent the only perspective. The external opportunities and threats are about the market and competitors. In the above example, the internal strength and weaknesses are about the RedYabber culture, values, workforce and product. With SWOT, it’s good practice to describe strengths and weaknesses from an internal perspective and opportunities and threats from an external perspective. *While this analysis is based upon some of our real-life clients, RedYabber is a fictitious company. The below is an example of a SWOT analysis 2×2 matrix, starring wooden toy company RedYabber as they prepare to embark upon a digital transformation journey.* SWOT, which stands for Strengths, Weaknesses, Opportunities and Threats, dates back to the 1960s. SWOT is a popular analysis technique in strategic planning, often characterized by the use of a 2×2 matrix to visualize the outcomes. SWOT Analysis Example and What to Do Next
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