SWOT analysis is strategic planning method and tool that is extremely useful for evaluating different business/project situations like strengths, weaknesses, opportunities and threats. The word SWOT is basically acronym of these four situations of business venture. SWOT analysis provides a perfect framework to evaluate strategy, position and direction of a company. It is very simple to do and is also very useful in brainstorming meetings where business management need to deeply consider the requirements of the business and project and SWOT analysis provides the best way to do so. Moreover, SWOT analysis can be used for:

• Business planning
• Strategic planning
• Competitor evaluation
• Marketing
• Business/product development
• Research reports

SWOT analysis is also the best way to identify internal and external factors that may be favorable or unfavorable for the business venue. SWOT analysis can be used in team building projects. After this short introduction of SWOT analysis, here we give you a standard format of SWOT analysis for your convenience. From this information you can learn the method of SWOT analysis. Let’s review the standard method of SWOT analysis that is based on four sections.

SWOT Analysis Method

Main point of SWOT analysis is controversy of its components for example weaknesses oppose strengths and opportunities oppose threats of business venture. This is standard format and method of conducting SWOT analysis for the project or business that can better determine all the business needs to accomplish.

SWOT Analysis Limitations

Although SWOT analysis is best for identifying different situations of business in more manageable way, yet some limitations are also involved with this analysis. Main point of this analysis is that it oversimplifies the process to identifying strengths, weaknesses, opportunities and threats of a business venue. It may not always fit to each business needs assessment process. For example, a particular company culture can be strength or weakness at the same time and technology innovation can be threat or opportunity in the same way. Then how a company management can consider it accurately what they should evaluate for their business development and long-term growth?

SWOT Analysis Test Scenario

If you are going to start a new restaurant business, very first step should to conduct SWOT analysis of restaurant business to determine the needs and goals of your business. SWOT analysis will guide you how the business you are going to start is and will survive in current market. It also tells you how well you will be to compete with others in this market. Ultimate need of SWOT analysis for each business is to bring the bad and good points in the mind to work with the project.

Free SWOT Analysis Templates

Here are several free SWOT Analysis Templates in MS Word and PDF format.

Download “Swot Analysis Template 01” Swot-Analysis-Template-01.zip – Downloaded 51 times – 11 KB

Download “Swot Analysis Template 02” Swot-Analysis-Template-02.zip – Downloaded 37 times – 16 KB

Download “Swot Analysis Template 03” Swot-Analysis-Template-03.zip – Downloaded 44 times – 13 KB

Download “Swot Analysis Template 04” Swot-Analysis-Template-04.zip – Downloaded 46 times – 16 KB

Download “Swot Analysis Template 05” Swot-Analysis-Template-05.zip – Downloaded 31 times – 37 KB

Download “Swot Analysis Template 06” Swot-Analysis-Template-06.zip – Downloaded 36 times – 35 KB

Download “Swot Analysis Template 07” Swot-Analysis-Template-07.zip – Downloaded 51 times – 57 KB

Download “Swot Analysis Template 08” Swot-Analysis-Template-08.zip – Downloaded 51 times – 24 KB

Download “Swot Analysis Template 09” Swot-Analysis-Template-09.zip – Downloaded 41 times – 25 KB

Download “Swot Analysis Template 10” Swot-Analysis-Template-10.zip – Downloaded 42 times – 27 KB

SWOT Analysis Example

This SWOT analysis is about restaurant business and let’s sees how strengths, weaknesses, opportunities and threats of a restaurant business can be determined to follow the things and avoid for successful business establishment.

Strengths of restaurant business include:

• Restaurant exterior is clean and tidy
• You charge less cost than your competitors
• You are serving the customers in an innovative style
• Your business has branded image
• Your choice of menu items is good than others
• You have well-trained staff to serve the customers

In the same way we can determine the weaknesses of a newly opened restaurant business that are:

• You have a new restaurant business not established
• Your funds are limited to groom your business
• You are offering same items already available in the market
• You are not advertising your business
• Un-appropriate Location of your business

Opportunities to groom the restaurant business can be:

• New office complex is about to build nearby your restaurant
• Housing colony is going to be developed nearby
• A new emerging or developing market, new place and less competition
• One of main competitors has been closed its restaurant business
• Grant from local council is available for regeneration

Things that can harm your restaurant business include:

• A new and highly reputed brand is moving into the market
• A main competitor has started price war with your and has lessen the price of its services
• Your operating costs have been increased
• Rent for your restaurant building will increase soon
• A well branded restaurant has lessen the price of services and you cannot match with them

SWOT Analysis Conclusion

From strengths, weaknesses, opportunities and threats of newly opened restaurant business, you can better understand the position of your business in the current market. All this information will let you make a wise decision about starting your new restaurant business. You can also change the contents of SWOT analysis template according to your needs.