What is a SWOT matrix?

What is a SWOT matrix?

SWOT stands for Strengths, Weaknesses, Opportunities and Threats, meaning strengths, weaknesses, opportunities and threats. In general, SWOT analysis applies to Products, teams, organizations, team leaders, or other entities; This analysis is used in many business environments to better understand how to plan for the future of the entity.

In the following, we will give more details about SWOT matrix analysis, explain the reasons for their use, we also talk about ways to use the knowledge gained from SWOT analysis that you can use in your recruitment process for new employment opportunities.

What is swot matrix analysis?

SWOT matrix analysis is a tool that you can use both personally and, in the workplace, to evaluate and decide on topics; In this analysis, internal and external factors affecting the subject are examined. Internal factors are negative (weaknesses) or positive (strengths) factors that exist in your organization and can change or be affected in some way. External factors, on the other hand, are negative (threats) or positive (opportunities) factors that fall outside the scope of the subject matter and may not necessarily be altered or influenced by you or your organization. In the following, we will take a closer look at each of these aspects.

 Strengths

In the SWOT matrix, the analysis of the strengths of the subject you are considering should include the internal characteristics, or in other words, the positive dimensions of the organization, person, Product or institution that you are evaluating. Some of the things you might ask yourself to understand the strengths of the issue are:

1. What are your positive characteristics?
2. What achievements have you achieved?
3. What helps you achieve your goals?
4. What resources do you have?
5. What is your speciality?
6. What sets you apart from others?

weak points

Weakness analysis of the relevant SWOT matrix covers all internal areas that need improvement or are vulnerable to the subject matter. Some of the things you may ask yourself to understand these weaknesses are:

1. Internally, what makes it difficult to achieve your goals?
2. What dimensions do you think need to be improved about your topic?
3. What do you lack in terms of resources, technology, audience, etc.?
4. What do you need to do to advance your long-term goals?

Opportunities

The Opportunities section of the subject you are considering includes all the related external opportunities. Some of the things you might ask yourself to better understand external opportunities are:

1. Which Products, Services or information are popular with your audience?
2. Are there any external resources you can use to achieve your goals?
3. Can you take advantage of current market trends and economic conditions?
4. Do you know what kind of technology will become popular shortly?
5. How do stakeholders view your brand, Product or service?

threats

The threat section in the SWOT matrix contains all the external threats that can hurt your topic. Some of the things you might ask yourself to better understand the threats are:

1. Do you expect market conditions to be bad or chaotic?
2. Is the audience no longer interested in your brand, Product or service?
3. Do your competitors have a special advantage over you?
4. How does your business, industry or target market view your business?
5. What could put your business at risk?
6. Do you see potential new competitors in your field?

Why should we use SWOT matrix analysis?

SWOT matrix analysis is used to obtain more information about all aspects of an issue, team, individual, or other entity. These assessments are used in many businesses, in almost every industry, as well as for personal purposes to assess the progress of people to achieve their goals. Individuals use SWOT matrix analysis to make sure they are working properly to achieve certain milestones before Setting any team or organizational goals. In general, these types of assessments can be used in a variety of situations. Here are some examples in which using SWOT matrix analysis can lead to useful results:

1. When deciding whether to hire new staff;
2. When designing a new Product;
3. When reviewing the performance of a team or group;
4. When examining a person's performance;
5. When evaluating the target audience or market;
6. When analysing Products for improvement;
7. When analysing inefficient processes;
8. When deciding to determine the area to focus resources on or how;
9. When determining your effectiveness in a job;
10. When determining your strengths for a new job.

How to perform SWOT matrix analysis

In general, there are several ways to perform a SWOT matrix analysis. Here are some basic steps you can take to begin the process of preparation for mediation.

1. Specify the topic you want to analyse ‌ explicitly

Your topic can be one of the things like analysing progress towards a specific goal, evaluating teamwork performance, or Learning more about a specific target market or Product; For best results, first, identify the topic you want to analyse well. Doing so will help you to have a clearer insight into the subject and, as a result, a better overall assessment. The following are examples for analysis by the SWOT matrix tool:

• January performance of the domestic sales team;
• Analyse your readiness to take on the role of Executive Assistant;
• Evaluate your social media marketing strategy.

2. Draw the SWOT matrix framework

To perform a SWOT matrix analysis, create a large square and divide it into 4 smaller squares. In the upper and right squares, you will record the strengths, and in the upper and left squares, you will record the weaknesses of the topic you want; You will also write down opportunities in the bottom right box, and list available threats in the bottom left box.

Also, if the topic you are interested in is personal and you want to do a SWOT matrix analysis for it, if you wish, you can draw the relevant frame in a notebook or draw it online in a document or Excel file; Also, if you are doing a SWOT matrix analysis to advance team goals, drawing a whiteboard or making it available to all employees can be a helpful idea for all of them to participate in the SWOT matrix analysis; Of course, if you think it is easier to draw this frame on a document or notebook, you can skip this.

3. Take the time to work on each section

To work on all internal strengths and weaknesses, as well as external opportunities and threats, you must devote sufficient time to examining each section; So, if you practice doing this with your team, all team members can participate in evaluating and analysing areas, and ultimately, you will achieve useful results; In other words, doing this will give you a variety of perspectives, and as a result, you can gain a more comprehensive understanding of the SWOT matrix analysis of your topic.

4. Draw the result and take the main steps

Once you have completed the SWOT matrix table, take the time to understand how the recorded information can be helpful in your analysis process; For example, if you are drawing a SWOT matrix table about one of your company's job seekers, do you find him/her a suitable person for the job you are looking for when you are done? Can his positive qualities meet the skills your business needs? Can his weaknesses or threats be addressed?

After completing the SWOT matrix, reviewing it after a certain period can be very useful; For example, if your SWOT matrix table shows specific weaknesses about the topic you are trying to improve and promote, you may be able to review and follow your SWOT table after working on your areas of weakness. Improve your other shortcomings. Doing so helps you to better understand the process of changing your job after trying to achieve your goals.

Conclusion

In general, SWOT matrix analysis can be useful for evaluating specific topics; Analysing these sections will also help you gain a better understanding of the topics you are considering or, as a result of analysing your table, arrive at useful operational points; For example, in the Weaknesses section you may see items that improve easily; As a result, to eliminate these weaknesses, you consider personal or team goals to achieve your or your team's weaknesses by achieving them.