SWOT - a Planning Tool for Business
course

SWOT - a Planning Tool for Business

SWOT Analyses are very useful during the planning and development stage of your business. This course introduces you to the SWOT Analysis Tool - a business planning tool that helps you better understand the strengths, weaknesses, opportunities, and threats that characterise your business.

The Skills Shack
Updated Jul 23, 2024

What you'll learn

  • The role of a SWOT Analysis in business planning
  • How to conduct a SWOT Analysis
  • The information and research required to build a useful SWOT Analysis
Course Description

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.

The SWOT is also a useful tool as your business develops and grows and helps you plan growth, the introduction of new products and changes in location.

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

 

Target Audience

Anyone planning a business or looking for a tool to test an idea.

The resource is also valuable for those operating a business and aiming for growth.

 

Learning Objectives

The resource introduces the

  • SWOT Analysis tool 
  • Provides an overview of each of the 4 key elements of the SWOT - Strengths, Weaknesses, Opportunities, and Threats.
  • Provides the information needed to develop a SWOT including a range of questions to help start your research and develop a first SWOT.
  • Links to examples and templates including a link to the Queensland Governments business site where you can access further tips for using the SWOT.

 

Business Outcomes

The SWOT tool is a simple yet powerful tool to use and is a valuable aid when planning to start or grow your business.