SWOT - a Planning Tool for Business
SWOT Analyses are very useful during the planning and development stage of your business. This course introduces you to the SWOT Analysis Tool - a business planning tool that helps you better understand the strengths, weaknesses, opportunities, and threats that characterise your business.
There are many tools to support you as you develop your business idea, plan and grow your business.
One of these is called the SWOT Analysis Tool or simply SWOT.
SWOT stands for
- Strengths
- Weaknesses
- Opportunities and
- Threats
Completing a SWOT during the planning phase of your business helps you develop your idea into a viable business. It can help clarify your thinking and prompt you to consider a broad range of factors that may impact the success of your business.
The SWOT is also a useful tool as your business develops and grows and helps you plan growth, the introduction of new products and changes in location.
In this resource, we introduce the SWOT Analysis Tool, its features and how you can use it to help plan and grow your business.
Target Audience
Anyone planning a business or looking for a tool to test an idea.
The resource is also valuable for those operating a business and aiming for growth.
Learning Objectives
The resource introduces the
- SWOT Analysis tool
- Provides an overview of each of the 4 key elements of the SWOT - Strengths, Weaknesses, Opportunities, and Threats.
- Provides the information needed to develop a SWOT including a range of questions to help start your research and develop a first SWOT.
- Links to examples and templates including a link to the Queensland Governments business site where you can access further tips for using the SWOT.
Business Outcomes
The SWOT tool is a simple yet powerful tool to use and is a valuable aid when planning to start or grow your business.
