Understanding SWOT Analysis

What’s Coming Up What is SWOT SWOT Overview Strengths Weaknesses Opportunities Threats Examples

What is SWOT SWOT is a business or strategic planning technique used by businesses and individuals to help analyse whether a goal can be obtained. In a political sense, it can be used to determine whether or not a party or candidate can win an election – and if so how they can do so.

Your Three Strategic Environments There are two environments that a SWOT analyzes: Internal Environment – Everything that is located within or owned by the company/party/person. External Environment –Everything that is located without the company/party/person that can affect the person.

So, What is SWOT Strengths Weaknesses Opportunities Threats SWOT is a summary of your Strengths Weaknesses Opportunities Threats Internal External

Strengths Strength Defined: A strength is a core capability of your business where your business has an advantage over your competitor(s), which your customers value i.e. you passed the better than your competitors test.

Weaknesses Weakness Defined: A weakness is an internal core capability that makes up your business where your competitor(s) have an advantage over your business, which your customers value i.e. you failed the better than your competitors test.

Opportunities Opportunity Defined: An opportunity is an environmental condition in your external environment that can improve your organizations competitive position relative to that of your competitors.

Threats Threat Defined: A threat is a forecast environmental condition that is out of your control and has the potential to harm your businesses profitability.

Example - Strengths Tangible Strengths Intangible Strengths Your Voting Record Campaign Finances Supporters Intangible Strengths Strong public speaking skills Your reputation Experience Previous successes

Example - Weaknesses Tangible Weaknesses Intangible Weaknesses Your Voting Record Any “dirty” information known about you. Insufficient financial resources Intangible Weaknesses Weak name recognition Poor public speaking skills Lack of experience

Example - Opportunities The people’s view of your party changing Weakness of other party Etc.

Example - Threats Threats People’s declining view of your party. Failing policies. etc.