Business Plan SWOT Templates
Essentially, a SWOT analysis is an examination of the internal and external factors that impact the organization and its strategies. The internal factors are strengths and weaknesses; the external factors are opportunities and threats. A SWOT analysis template gives an organization a clear picture of the “situation” in which it operates and helps it identify which strategies to pursue. In the context of developing a business plan, differentiated strategy identification is very important.
Strengths and weaknesses include the resources and capabilities within the organization now. Since the company has the most control over internal factors, it can craft strategies and objectives to exploit strengths and address weaknesses. Examples of internal factors include the following:
- Financial resources
- Technical resources and capabilities
- Human resources
- Product lines
All of these are controlled by the organization. Competitive positioning can also be a strength or a weakness. While competitors’ strategies and tactics are external to the company, the company’s position relative to the competitors is something that it can control.
External factors include opportunities and threats that are outside of the organization. These are factors that the company may be able influence—or at least anticipate—but not fully control. Examples of external factors include the following:
- Technology innovations and changes
- Economic trends
- Government policies and legislation
- Legal judgments
- Social trends
While a company can control how it positions itself relative to the competition, it can’t control competitors’ actions or strategies.