swot analysis questions

SWOT Analysis Questions

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SWOT Analysis Overview What is SWOT Analysis?

Remember, It’s Virtually Impossible To Focus Too Much On What You Do Well And What Creates Profits For Your Business.

A SWOT (Strengths, Weaknesses, Opportunities, and Threats) is a tool used to provide a general or detailed snapshot of a company's health. Think of your SWOT as a tune-up that every business needs periodically to diagnose and fix what’s a bit worn, what’s on the verge of breaking down, or what’s already broken and needs replacement--so that you can keep the business humming—even better than it has in the past.

SWOT offers professional managers an effective evaluative technique to aid the decision making process.

It can not find the solution for you, but it will ensure that issues are: identified, classified and prioritized clearly, showing the problem in terms of key underlying issues. Decision makers can then see the answer.

It's a four-part approach to analyzing a company's overall strategy or the strategy of its business units. All four aspects must be considered to implement a long-range plan of action.


Why Use SWOT?

In any business, it is imperative that the business be its own worst critic. A SWOT analysis forces an objective analysis of a company's position via its competitors and the marketplace. Simultaneously, an effective SWOT analysis will help determine in which areas a company is succeeding, allowing it to allocate resources in such a way as to maintain any dominant positions it may have. SWOT Analysis is a very effective way of identifying your Strengths and Weaknesses, and of examining the Opportunities and Threats you face. Carrying out an analysis using the SWOT framework will help you to focus your activities into areas where you are strong, and where the greatest opportunities lie.

Why Bother to SWOT? The economy stinks. So why take the time to bang your company over the head doing a SWOT analysis when so much is out of your control? No question that the current downturn is impacting some businesses more traumatically than others, and a lot of disappointing business results can be blamed primarily on the general economic climate. But look around. A high percentage of U.S. businesses are surviving the pain, and many are even thriving. Winners typically win not by sticking with their past game plans--but rather by focusing on some new thing(s) that are under their control.

During depressed economic times, there are still lots of winners


SWOT Analysis How Does SWOT Analysis Work?

The strategy is to look at the organizations current performance (strengths and weaknesses) and factors in the external environment (opportunities and threats) that might affect the organizations future.Once the attributes for each section have been identified it is possible to determine the point of balance. Eventually the points of balance of strengths versus weaknesses and opportunities versus threats can be plotted together. For example, an information technology department needs to determine the strengths and weaknesses of its people and its technology. It also needs to make sure the IT strategy complements the company's business goals. The department head needs to ask: What is each staff member good at? What are they not good at? Project leaders also must consider opportunities and threats -- or customers and competitors. How attractive is the market or direction they're considering? What's their market share and cost structure? POSITIVE NEGATIVE

INTERNAL Strengths Weaknesses EXTERNAL Opportunities Threats


SWOT Analysis Strengths Questions

What makes you stand out from your competitors? What advantages do you have over other businesses?What are the major sources of a company's revenue and profit?What is the market share of the company in its various product lines?Does the company have strong brands? Is the marketing/advertising effective?What is the major focus are of the company?Does the company have a pool of skilled employees?Is the morale of the employees high?

Are there rewards in place to create an atmosphere conducive to excellence?What is the cost of capital?What is the stock price track record?Does the company harness information technology effectively?Does the company manage its inventories efficiently?Has the company demonstrated the ability to adapt and change?Is the company able to innovate?How has the company withstood international competition?

Think about what your company does well. Some questions to help you get started


SWOT Analysis Weakness Questions

What do your customers complain about? What are the unmet needs of your sales force?What are the least profitable product lines for the company?In what areas is the company not able to recover costs?Which are the weak brands? Is the marketing/advertising effective?Is the company not focused?Is the company able to attract talent?What are the biggest expenditures of the company?

Is the company able to raise money when it needs to?Does the stock price history inspire confidence?Will the company be able to stand price pressure from competitors?Has the company been able to bring new ideas and products to the market place?Do employees feel facilitated to perform their best?Do employees have faith in management?Are the corporate governance standards high enough?Is the company losing out to competitors on the technology front?

List the areas that are a struggle for your company. Here are some questions to help you get started


SWOT Analysis Opportunity Questions

Analyze your customers and market attractiveness

Are there emerging trends that fit with your company's strengths?

What are the interesting trends? Is your company positioned to take on those trends?

Is there a product/service area that others have not yet covered?

What favorable circumstances are you facing?

Is your company entering new markets?

Is your company advanced in technology?

Similarly, opportunities for some actions may be threats for others


SWOT Analysis Threat Questions

Check out what your competitors are doing and assess other potential challengesAre your competitors becoming stronger? Are there emerging trends that amplify one of your weaknesses? Do you see other external threats to your company's success? Internally, do you have financial, development, or other problems? What obstacles do you face? What is your competition doing? Are the required specifications for your products or services changing? Is changing technology threatening your position? What policies are local and federal lawmakers backing? Do they affect your industry?

Here are some questions to get you started


SWOT Analysis Template

Oppurtunities Threats

SWOT AnalysisInternal

Strengths Weaknesses

External

Writing alone on a piece of paper, without a name, provides some protection of anonymity, & some observations about

sensitive issues can be revealed this way

The SWOT Template is a Simple Worksheet


SWOT Analysis Markets—Prospects and Customers

How well known is your company in the marketplace?

Who knows about you and who doesn’t?

How is your company perceived in the marketplace?

What else would you like your markets to know about your business?

How do you differentiate your market(s)—e.g. by size of business customer, type of industry, geography, etc?

Where is your ‘”sweet spot” market(s) and why?

What (else) do those key markets need to solve their business problems?

What are your 2002 sales trends per market (per product and service)?

Where do you make most of your money?

Who are you trying to sell to now?

What specific audiences do you pitch to and why?

A SWOT Analysis Is A Basic Part of Any Marketing Plan!


SWOT Analysis Markets - Prospects and Customers (Cont.)

Who writes the checks?

What % of your 2002 revenues came from existing customers?

Which of your customers are most profitable?

What is your customer retention performance the past 3 years?

Which customers are you most likely to retain?

Who are your best customer(s) and why?

Who are your problem customers and why?

Have you ever “fired” a customer? If so, why—or why not?

What do customers say about your products/services?

How well does your company continually interact with clients?

How do you track those interactions?

A SWOT Analysis Helps Us Learn Our Customers Wants & Needs


SWOT Analysis Products & Services (Packaging & Pricing)

What are your products and services (that you have actually have available to sell)?

What are you selling at what prices?

What is the rationale(s) for your current packaging/pricing?

Could you price your products/services differently (and be more successful)?

What business problems do your product/services address?

How do your products/services address those specific problems?

What makes your products/services different, better than the competition?

What are the 2008 growth trends per product/service (e.g. new customers, revenue or profit per customer, etc)?

“All Business Is Show Business”


SWOT Analysis Products & Services (Packaging & Pricing) Cont.

What are your “best” products/services and why?

What are your most profitable products/services?

Do you deliver what you sell (at a minimum)?

What products and services have the most potential for 2003 and why?

What does the marketplace need in your “space?”

What else, if anything, should your company be offering?

Where do your ideas come from to enhance current product/services and develop new ones?

How much do you invest in developing new products and services?

Our Product or Service Image Impacts Our Market Position


SWOT Analysis Sales & Competition

What resources are devoted to selling your products and services?Do you have the sales staff to adequately cover your market(s)Who sells most successfully and why?Are your sales people selling the same (agreed upon) products and services?What is the origin(s) of your 2002 new sales (e.g. referrals, direct sales contacts, cold calling /telemarketing, other marketing vehicles, etc)Why do you win specific types of sales--and lose others?What do they like and not like?What questions do prospects ask?How much does your sales pitch vary, salesperson to salesperson?How well is it managed? What does your current Sales funnel look like?What is your Sales tracking process?How does Sales follow-up with prospects?How involved are Sales with customers on an ongoing basis?

“Control Your Own Destiny or Somebody Else Will” – Jack Welch


SWOT Analysis Sales & Competition (Cont.)

How successfully do you re-sell (additional products/services) to your customer base)?How do you leverage your Sales through “strategic partnerships”?How productive have those been?Do your sales incentives match your business strategy and growth objectives?How do your results (e.g. per market, product/service) compare with your sales incentives?Are your Sales and Marketing people on the same page? If not, why not?Who are your top competitors? Other second-tier competitors?Who do you go up against most often in sales situations?How well do you know their product/services and marketing/sales approaches?How do your products/services and prices stack up to others?Who beats you most often and why?What do you like that could be incorporated into your business?What do competitors do to “reposition” your company?What do you do to reposition your competitors?What information do you regularly track on your competitors?

Partnerships Can Change The Competitive Game


SWOT Analysis Marketing Questions

What marketing vehicles have worked the best in 2002 and why?Which ones have not worked and why?How coordinated are your marketing initiatives?Are you getting people’s attention with your marketing messages?Who, specifically, are you attempting to reach?What level of frequency are you using to get your messages out?Do you apply marketing resources on a regular ongoing basis?What % of your revenues did you devote to marketing in 2002?Has that been enough, too much? Why?What limitations, if any, have you put on your marketing investment in 2002?What other marketing initiatives have you considered trying?Do you monitor your marketing results? How?Do you have a marketing plan?How often do you adjust your plan?How is your marketing department/function organized?How focused is your company on marketing in comparison to Sales?How effectively do your Sales people put Marketing leads to work?

You can also apply SWOT analysis to your competitors


SWOT Analysis Positioning (Cont.)

Are the messages and information (and graphical appearance) across ALL of those materials/vehicles: current, accurate (true), consistent, clear, free of jargon, illustrative (vs. just descriptive) and unique?

How well do your messages, themselves, differentiate your products/services and overall business?

Can virtually anyone understand your top-line messages and what value/benefits that your products/services provide (that is what business problems they solve)?

Who coordinates/how do you continually coordinates ALL messages regarding your business and your products and services?

How often do you change your messages as necessary?

How well do your messages match your actual products/services?

SWOT identifies the internal and external factors that affect an organization!


About The Author

Steven Bonacorsi is a Senior Master Black Belt instructor and coach. Steven Bonacorsi has trained hundreds of Master Black Belts, Black Belts, Green Belts, and Project Sponsors and Executive Leaders in Lean Six Sigma DMAIC and Design for Lean Six Sigma process improvement methodologies.

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