As a business student, you will need to familiarize yourself with the SWOT analysis early in your studies. Doing it manually can be tedious. So, you're welcome to use our online SWOT tool that automates many steps.
💡 How to Use the SWOT Tool?
The online SWOT analysis tool developed by EssayBizLab is your handy personal assistant in business strategy development. Here’s how the free SWOT generator works.
- You insert data in the relevant fields of the template.
- You choose the preferred design of the SWOT matrix from the list of options.
- You download the ready SWOT analysis file in the chosen format.
🧩 What Are the 4 Parts of the SWOT Analysis?
As the acronym SWOT suggests, the four parts of SWOT analysis cover the following areas of business strategy:
|Strengths||This aspect includes the company's strong sides and current competitive advantages. It may be a robust workforce, a solid culture, or the company's tangible and intangible resources and assets.|
|Weaknesses||These aspects cover the company’s current problems and gaps, like a weak strategy, high turnover, or decline in sales.|
|Opportunities||Here, you should evaluate what the planned change can do for the better. For instance, expansion to a new market promises a rise in customer base. Similarly, a new marketing strategy can become a great sales booster.|
|Threats||Every innovation comes with positives and negatives. Thus, you need to anticipate challenges and threats apart from the opportunities. For example, new markets come with new competitors, while new regulatory environments can bear a legal challenge.|
🔎 What Is the SWOT Analysis Used for?
The SWOT decision-making tool is part and parcel of business strategizing. It helps a company assess its external and internal environment regarding growth stimuli and barriers. As a result of the careful, insightful evaluation, the business can choose an optimal development path that builds on its strengths and minimizes the impact of negatives.
Due to the universal coverage of SWOT metrics, this analytical tool is typically used when:
- A company plans to launch a new product
- Entry into a new, unknown market is approaching
- The team is expanded with new job roles and positions
- Product lines undergo strategic changes.
👉 What Are the Internal and External Factors of SWOT Analysis?
Using our online SWOT tool, you can cover external and internal analysis of the company in one go. Strengths and Weaknesses in the SWOT matrix stand for internal factors, while Opportunities and Threats relate to external assessment.
Internal SWOT Analysis
This part of the SWOT analysis covers the company's existing resources and barriers to better performance. The analyst should be honest and objective in evaluating these influences, as careful analysis can give a better glimpse of where the business is.
External SWOT Analysis
The company's external environment is a set of factors beyond its influence. Yet, they can be effectively used to improve the business's standing on the market. For instance, a proper appeal to new customers can boost sales, while careful consideration of the new market's regulatory environment can minimize the legal friction of market entry.
📝 SWOT Analysis Examples
This section contains a collection of A+ SWOT analysis examples published in our essay database. You might want to use them for reference.
- Clayton County Library System: SWOT Analysis and Strategic Issues
- Strategic Management: SWOT Analysis for Gap Inc.
- IKEA Company: Mission, SWOT Analysis and Strategy
- Apple’s PESTEL, SWOT, Five Forces, VRIO Analyses
- Coca Cola Company’s SWOT Analysis
- Hewlett Packard Incorporation’s SWOT Analysis
- Uber Technologies Company: SWOT Analysis
- Chic-fil-A: Situation & SWOT Analysis
- McDonald’s: A Strategy to Revive Its Leading Role
- Indian Ethnic Food in the UK: The New Product Development
- Case Study: Tesla Company Analysis