SWOT Matrix Analysis
To evaluate your Strengths, Weaknesses, Opportunities, and Threats to strategically plan and identify improvements and your competitive advantage.
- Steps
- 7
- Last edited
- Oct 9, 2026
- Created by
- Nova
About this process
The SWOT analysis is used by product and marketing departments to strategically plan and identify improvements, their competitive advantage. Use the SWOT analysis when you want to evaluate how your company is doing by having a quick understanding of how internal and external factors may affect your business.
The process in detail
7 steps- 1
What external factors are affecting your business or the current situation?
- 2
Evaluate your Strengths
- 3
Evaluate your Weaknesses
- 4
Evaluate your Threats
- 5
Evaluate your Opportunities
- 6
Highlight key insights and findings from the board/discussion
- 7
Discuss new strategies and business opportunities based on your findings (Optional)
Read the full text
1. What external factors are affecting your business or the current situation?
2. Evaluate your Strengths
👉 Strengths: Strengths are an internal factor of the product or services that provide an advantage over other products. They are normally considered as a competitive advantage. These kinds of features can be a product or business characteristic. Add one per sticky note, prioritize and add the top 3 or 4.
3. Evaluate your Weaknesses
👉 Weaknesses: Internal product or business factor that puts it at a disadvantage when the customer or stakeholders are competing for your product or business to other alternatives. Add one per sticky note, prioritize and add the top 3 or 4.
4. Evaluate your Threats
👉 Threats: External factors impacting or that can impact the product or business. This area is sometimes preventive and can focus on forecasting new technologies, policies, natural disasters, etc. Add one per sticky note, prioritize and add the top 3 or 4.
5. Evaluate your Opportunities
👉 Opportunities: Opportunities are external to the product or business and normally are related to partnerships and strategies. Some companies also add the strategies that are currently in consideration in this section. Add one per sticky note, prioritize and add the top 3 or 4.
6. Highlight key insights and findings from the board/discussion
Briefly identify the key insights from this discussion and explore their importance in defining a winning strategy in the current market. Focus on whether to reinforce strengths to further differentiate from competitors, address weaknesses, or capitalize on emerging opportunities. Be brief.
7. Discuss new strategies and business opportunities based on your findings (Optional)
Create a 1–2 page document outlining top opportunities, strengths to leverage and communicate, areas for improvement, and weaknesses.
Define the tactics and strategies needed to win based on these insights, and evaluate the following strategic approaches:
- 01
- DEFINE YOUR SITUATION
- This is a sticky note.
- Internal product or business factor that puts it at a disadvantage when the customer or stakeholders are competing for your product or business to other alternatives.
- Strengths are an internal factor of the product or services that provides an advantage over other products. They are normally considered as a competitive advantage. These kinds of features can be a product or business characteristic.
- This is a sticky note.
- 02
- EXTERNAL FACTORS AFFECTING YOUR BUSINESS OR SOLUTION.
- Opportunities are external to the product or business and normally are related to partnerships and strategies. Some companies also add the strategies that are currently in consideration in this section.
- External factors impacting or that can impact the product or business. This area is sometimes preventive and can focus on forecasting new technologies, policies, natural disasters, etc