SWOT analysis template

Use this editable template/outline to assess the strengths, weaknesses, opportunities, and threats of an organization, a specific product, service, project, or policy. Dividing your analysis into these four quadrants helps clarify the existing forces that will affect your organization’s future.

A SWOT analysis helps with strategic planning by providing valuable insights into the internal strengths and weaknesses, as well as the external opportunities and threats. It helps teams make informed decisions, set realistic goals, and create effective strategies to achieve success.

The SWOT analysis template helps you:

• Gain valuable insights into internal and external factors

• Build a shared understanding of strengths, weaknesses, opportunities, and threats

• Set clear and actionable objectives that align with a broader business strategy

• Identify potential threats and risks in the market

How to use the SWOT analysis template

As a starting point, set the purpose of the SWOT analysis. Identify a specific company/startup, new product line, marketing strategy, or action plan to evaluate with the matrix. Next, brainstorm ideas for each of the following quadrants with your team members.

Step 1: List out strengths

What do we do well? What separates us from competitors? What unique resources do we have? Evaluate the internal factors and focus on leveraging those advantages to achieve goals and stay ahead of the competition.

Examples of a company’s strengths might include a strong brand reputation, proprietary data or methods, efficient supply chain management, or advanced technology infrastructure.

Step 2: Identify any weaknesses

What do we lack? What do competitors do better than us? Where are our resources limited? By identifying and working on weaknesses, you can reduce the risk of a business or project from outside competition.

Possible weaknesses may include limited financial resources or funding, outdated systems, low brand recognition, or inconsistent product quality.

Step 3: Make note of opportunities

Where do we see ways to meet people’s real-world needs? Where are people under-served by existing offering? Catalog the opportunities that your team can turn into strengths or even competitive advantages.

Potential opportunities may include emerging market trends disrupting an industry, strategic partnerships with complementary businesses, growing demand for new product categories, new marketing channels like social media or text messaging, and new geographic markets.

Step 4: Identify possible threats

What competitors are emerging? Are there any external factors that might get in the way of our success? Take the time to develop strategies that minimize risks and protect the business or project from negative impacts. This helps ensure long-term sustainability.

Example threats may include competitors gaining market share, changing government regulations, economic downturns, or negative public perceptions due to industry controversies.

Step 5: Evaluate and develop a plan of action

Based on the insights gained from the SWOT Analysis, brainstorm and prioritize strategies and action plans. Leverage strengths to capitalize on opportunities, address weaknesses to mitigate threats, and develop innovative approaches to achieve objectives.

Tips for creating a SWOT diagram

• Involve stakeholders and subject matter experts: Engage key stakeholders and subject matter experts throughout the SWOT analysis process. Their insights and expertise can provide valuable context and help validate the accuracy and relevance of the identified factors.

• Focus on actionability: Ensure that the factors identified in the SWOT matrix are actionable. Instead of merely stating strengths, weaknesses, opportunities, and threats, strive to translate them into specific strategies, initiatives, tactics, and measurable objectives tied to metrics.

• Continuously monitor and update: SWOT analyses are not one-time events, but an ongoing process. Regularly monitor the progress of the implemented strategies and reassess the SWOT factors in light of changing circumstances. Remain agile and adapt your approach as needed to ensure your analysis remains relevant and effective.

Example of a SWOT analysis

Below is an example of a SWOT analysis conducted by a fictitious bank. Using the SWOT analysis outline, the team has filled out each section of the template with sticky notes during a brainstorming session (this can be conducted asynchronously or in real-time, and you can avoid groupthink by using Mural's private mode feature). Once your team is finished adding ideas to the mural, you can begin to identify common themes or groups that may have emerged.

This process of sorting your ideas based on common themes (which can also be addressed using Mural's AI features for Enterprise accounts) makes your brainstorming directly actionable, as you can then begin to assign tasks or followup items based on your feedback. The SWOT analysis outline not only helps structure your brainstorming, but also streamlines your action items, as you'll emerge with a stronger understanding of the key issues, and be able to better prioritize your work.