How to Coach Yourself and Others Essential Knowledge For Coaching | Page 523

4.40 SWOT ANALYSIS
The SWOT analysis is an extremely useful tool for understanding and
decision-making for all sorts of situations in business and organizations.
SWOT is an acronym for Strengths, Weaknesses, Opportunities, Threats.
The SWOT analysis headings provide a good framework for reviewing
strategy, position and direction of a company or business proposition,
or any other idea.
Completing a SWOT analysis is very simple, and is a good subject for
workshop sessions. SWOT analysis also works well in brainstorming
meetings.
Use SWOT analysis for business planning, strategic planning, competitor
evaluation, marketing, business and product development and research
reports. You can also use SWOT analysis exercises for team building
games.
Note that SWOT analysis is often interpreted and used as a SWOT
Analysis 2x2 Matrix, especially in business and marketing planning.
In addition to this 2x2 matrix method, SWOT analysis is also a widely
recognized method for gathering, structuring, presenting and reviewing
extensive planning data within a larger business or project planning
process.
Please note: If you use SWOT Analysis as a 2x2 matrix method , then
technically Strengths and Weaknesses are internal factors (generally
the case anyway), whereas Opportunities and Threats are external
factors (this can be more difficult, since it requires you to ignore
internal threats and opportunities). The SWOT 2x2 'internal/external'
matrix method thus only considers external threats and opportunities.
A SWOT analysis is a subjective assessment of data which is organized
by the SWOT format into a logical order that helps understanding,
presentation, discussion and decision-making. The four dimensions are
a useful extension of a basic two heading list of pro's and con's .

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