SWOT- a Planning Tool for Your Business

SWOT- a Planning Tool for Your Business

As you develop and grow your business, there are many management tools you can apply to develop better business strategies. One of these is the SWOT Analysis Tool, which enables you to analyse the internal strengths and weaknesses of your business, as well as assess external opportunities and threats you should be aware of. This course will teach you how to conduct a SWOT analysis for your business.

The Skills Shack
Updated Oct 22, 2019

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.

Target Audience

Small business owners and operators

Learning Objectives
In this video we introduce the SWOT Analysis Tool, its features and how you can use it to help plan and grow your business.

Business Outcome

Awareness of the SWOT as a useful planning tool as business develops and grows. Using the SWOT can also help growth planning, the introduction of new products and changes in location.