SWOT Analysis

A SWOT Analysis is a strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. You can use Mind Map to support your SWOT analysis with mind mapping or custom designed SWOT object. 

There are two ways to visualize SWOT in Mind Map:

  1. SWOT with mind map. Create a Central SWOT topic. Then use Enter and Insert keys on your keyboard to create SWOT subtopics:  Strengths, Weaknesses, Opportunities, and Threats. Now you can add to the map single topics and attach them to the proper category.
  2. Custom Designed objects. With Mind Pad object-oriented approach you can design object with your own properties. For instance, it's easily to design frame object with detailed description of  topic opportunities and threats. Read more about custom designed objects.

Definition

Examples of possible Strengths / Weaknesses and Opportunities / Threats

Strengths and Weaknesses

  1. Experience
  2. Resources
  3. Originality
  4. Customer Service
  5. Efficiency
  6. Competitive Advantages
  7. Infrastructure
  8. Quality
  9. Business Alliances

Opportunities and Threats

  1. Business Alliances
  2. New Products and/or Services
  3. Increasing Market Saturation
  4. Targeting a New Market Segment
  5. Locating a New Source of Revenue 
  6. Increasing Market Saturation, Targeting a New Market Segment
  7. New Products and/or Services

Many of these factors could appear listed in several categories. For example, if one's competitors initiate an alliance, this comprises a threat. If one becomes part of such an alliance, this could become an opportunity. If an existing alliance causes problems in a supply chain, one diagnoses a weakness. If one's alliances offer a competitive advantage, this indicates a strength.

SWOT analysis can help in turning weaknesses and threats into opportunities, and ultimately into strengths. The exercise can also identify opportunities that will address weaknesses, and strengths that will counter threats.

Description

A SWOT Analysis is a strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. Strengths and weaknesses are internal to an organization. Opportunities and threats originate from outside the organization. 

A SWOT analysis, usually performed early in the project development process, helps organizations evaluate the environmental factors and internal situation facing a project. Strengths and weaknesses are attributes that measure your internal capability. 

Opportunities and threats refer to how the external environment affects your team/business/group. Ideally a cross-functional team or a task force that represents a broad range of perspectives should carry out SWOT analyses. For example, a SWOT team may include an accountant, a salesperson, an executive manager, an engineer, and an ombudsman. http://en.wikipedia.org/wiki/SWOT 

More about Quality Management

Learn more about methods of quality management and how to use mind mapping and Mind Pad to support them. Learn about Total Quality Management method, SWOT analysis, Six Sigma quality program.

         Total Quality Management (TQM). Quality assurance through statistical methods is a key component in a manufacturing organization. Learn how to mind map TQM. 

         Six Sigma  is a quality program for improving business processes. Describe your process and Six Sigma topics with Mind Map.