How to write a SWOT analysis paper

What is a SWOT analysis paper

The abbreviation of SWOT means Strengths, Weaknesses, Opportunities, and Threats. Even though it may sound like a simple list of pros and cons, it is not. The main purpose of writing a SWOT analysis paper is to identify various factors that lift your business or tear it down.

Define the objectives

Start writing a SWOT analysis paper by identifying your objectives. You will need to write a table to make analyses easy-going and clear. The table must contain four main points. It would be better if you start with Strengths.

Strengths

To write a compelling list of Strengths, you must answer the following questions: 

• What does your business do best
• What attracts customers to your company
• What do customers like about your business
• What can your business offer that competitors cannot do well

Weaknesses

Recall the reviews left by customers and pay attention to what made them not satisfied. Consider the feedback of employees who worked with your business or currently working on you. 

In order to improve the weaknesses try to answer these questions:

• What are the resources of your business that need to be more 
• What are the areas of your business that must be improved 
• What are the reasons your potential customers decide to work with your competitors instead of you

As an owner, you must be genuine and realistic when you define your business’s weaknesses. Forget about optimistic expectations and look with a fresh eye on your business processes, products, and services. Remember that defining weaknesses will help you to reduce them and approve your business.

Note that it is crucial to divide weaknesses from threats. The main distinction between them is that weaknesses are internal factors you can improve inside your business. In other words, you can control weaknesses. Threats, instead, are external factors that you can hardly control.

Opportunities

It is crucial to start defining opportunities only after you are clear about your business weaknesses and strengths. 

Answer the following questions regarding opportunities:

• Look at the market you’re working at and define the current trends, also trying to predict future trends in the business 
• What are the trends you can use to grow your business
• Can you grow your business by partnering with a reliable company or an entrepreneur
• Consider whether there are any opportunities to get investments or sponsorship for your business 
• Think over the opportunities to grow your business by developing new products or types of services

Threats

Now you’re ready to think over the threats to your business. Here are the most crucial factors to consider:

• Is your business seasonal 
• Is your business completely legal 
• Doesn’t it have an unreliable cash flow process that could become a threat
• Are all your partners and suppliers reliable enough to trust them
• Are there any situations that make it impossible to grow your business, and what are these obstacles
• How do laws in your field affect your business
• Is there any opportunity for changes in this area

Structure your paper

Now you’re ready to start writing your paper. Draft your SWOT analysis paper and add it with the following sections:

Start with an introduction that will provide your main goal and set the main questions you want to answer with the help of a SWOT analysis 

Proceed with writing the body. Briefly describe the Strengths, Weaknesses, Opportunities, and Threats you included in the table while preparing for writing. If there are too many items to consider and you cannot reduce any of them, use bullet points to make the section readable

The next part of the body of a SWOT analysis paper will be the analysis itself. It is the most crucial part of the paper. The goals of the analyses part are developing an effective strategy for your business and creating an action plan to achieve the set goals, and finalizing a conclusion.

Write an analysis part

When analyzing, consider all four factors together and find connections between them. Here are the most important questions to make the SWOT analysis section practical and useful:

• Think about the threats from the point of your strengths and define whether it is possible to use one of the strengths to beat a thread
• Think over the possibility of minimizing the weaknesses of your business by using its strengths
• Is there a way to eliminate the weaknesses of your business by using one of its opportunities

Generate a plan

Now that you have found connections between the strengths, weaknesses, opportunities, and threats of your business, proceed with developing an action plan. It would help if you generated working ideas that can be clear and measurable to start acting immediately. After you create a list of ideas for your business, prioritize them and decide what you can do now and what is the easiest way to start improving your business. Arrange the plan of action to make it readable by using bullet points.

Application of SWOT analysis in other areas

Let’s look at the three examples of how a SWOT analysis can be used both for personal development and for the development of a company.

SWOT analysis for non-profit organizations

Non-profit organizations can use SWOT analysis to help inform about their strategic planning.

The SWOT process is a great way to understand how your organization fits into the market and to make an impact by running campaigns and fundraising initiatives. Incorporating a SWOT analysis early into the development strategy can help you make better decisions.

SWOT for business development

Business development is a crucial part of every company and being aware of the company’s strengths and weaknesses is an invaluable asset.  Doing a SWOT analysis helps you identify any weaknesses that may become a problem for the company’s growth. 

Personal SWOT analyses

SWOT analyses can be applied even in evaluating your personal growth. For example, if you are looking to level up in your career, creating a personal SWOT analysis can help you compare your strengths and weaknesses. That’s how you will be able to make better decisions about what areas you can improve.

Conclusion

The last section of the SWOT analysis paper will be a conclusion. Recall the initial purpose of writing an essay and remember the information you included in an introduction. The conclusion must provide your vision of how a business can grow. Also, it is crucial to add a conclusion with some points from an action plan. When finalizing the paper, set a deadline to complete all planned improvements.