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Even the most organized and experienced decision-making leaders can get overwhelmed juggling business planning, project management, or strategic planning. SWOT matrix is a tool that many leaders turn to for breaking down business strategy, calculating competitive position, and improving their decision-making processes. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. A SWOT matrix, also sometimes referred to as TOWS, provides a useful strategic planning tool for understanding the current status of your strategy by categorizing each business factor by their origin, internal factors vs external factors, and their overall effect, positive factors vs negative factors.
This streamlined SWOT template is a SWOT analysis tool for either business strategy or personal SWOT analysis. Similar to PEST analysis, the SWOT matrix will quickly surface internal factors and external factors driving your business. Strengths might be competitive advantage or market position; weaknesses could include negative factors like poor business strategy; opportunities might be new products or new opportunities within new markets; threats could include government regulations or a negative external environment. Use this framework to target external opportunities, manage and eliminate threats, identify environmental factors, and grow your internal strengths.