The Purpose of SWOT Analysis
SWOT analysis is a strategic management decision making methodology which helps you make effective choices. This can be very useful for a business manager or even for your own personal decisions. SWOT is effective because it helps you understand the underlying issues. Basically it works by breaking up a difficult problem into four different quadrants:
· Strengths: In this quadrant, you list and evaluate the issues that are done well in your business. What are the reasons why you are better than your competition?
· Weaknesses: In this quadrant, you list and evaluate issues that you are weak at in your business. What are the issues that you can improve?
· Opportunities: This quadrant refers to what you can take advantage of in your environment. What will lead your strengths to be successful? What external issues are there which can help you reach your full potential?
· Threats: This quadrant refers to environmental issues that threaten your business and of which you must be wary. How can you mitigate the effects of threats you face?
Strengths and weaknesses refer to internal issues, while opportunities and threats represent external issues.
With Cymeon’s SWOT analysis you are able to explore the company’s present and future options: you can use it to help you make important decisions about company policy, you can define areas that need to be changed or you can change the time-line of your decisions or plans. Best of all, you can share the plan with colleagues so that you can come up with the best group ideas. By involving colleagues, you can also increase their participation in the process and therefore their buy-in.
SWOT Analysis Software
Cymeon’s SWOT Analysis Software is created to make your decision making process much easier. It enables you to define and explore problem areas in your company to help you find the best solutions. Also, it allows you to compare multiple solutions to the problem and pick the one that is most suitable. You can use SWOT Analysis Software to analyze past failures to avoid making the same mistakes in the future. This useful online decision making tool can identify important issues and guide you through the decision making process. It also drives improved understanding by presenting your complex ideas in a systematic order. Furthermore, this software tracks changes over time to enable you to identify the best strategic path through the changing dynamics of the four quadrant areas as you make plans for the future.
By providing you with all this information, Cymeon’s SWOT Analysis Software encourages you and other decision makers to brainstorm and share ideas. It gives you the opportunity to better understand issues, trial different ideas and refine existing The benefits of this practical tool will have a positive impact on your decision making process and your business in general.