If you are a small business owner or you are a professional, situational analysis is very important when it comes to the decision-making process. By analyzing business situations, it helps accurate decisions and makes a successful action plan to achieve your goals.
There are different types of business analysis tools for both internal and external business environment. A good example is PESTLE Analysis and SWOT Analysis. Using Swot analysis example is the best way to understand this technique.
If you are already familiar with “What is Swot Analysis” and how to use it. Even then I suggest go through few examples of swot analysis in your industry or outside the industry.
For those who are not familiar with SWOT Analysis, Let us understand it.
Table of Contents
Let us Understand What is SWOT Analysis
SWOT analysis stands for strengths, Weaknesses, Opportunities and threats. When doing this situational analysis, basically we analyze internal and external factors of a business. Small business owners and managers can easily understand what situational factors are favorable and what are unfavorable. In case of more favorable situations, you can purse the project or launch the product with great success.
Here I will discuss the example of swot analysis for McDonald an American based fast food company
SWOT Example of Tourism Ireland
Below is the example of a swot analysis for Ireland Tourism Industry conducted in the year 2000. This analysis is available online on different platforms.
General Business SWOT Analysis Examples
Here I will give you a detailed swot analysis example keeping in view the general business environment. you can remove the irrelevant factors and add the relevant according to your business situation.
- Patents rights
- Strong brand recognition
- Market Share
- Financial reserve
- Strong geographical Locations
- Innovative business model
- What are the gaps in capabilities
- Poor customer reputation
- Cash flow difficulties
- Unable to maintain proper record
- High Cost structure (inventory)
- Outdated information technology system in placed
- Insufficient and outdated market research data
- Technological Advancement
- Loyal customer base
- Customer Needs
- A new and favorable trend
- New Market Opportunity
- The entrance of a new competitor in the industry (cheap products and services)
- New rules from regulatory authority
- Political instability in the State and Country in which operating
- Change in market demand
- Taxation changes
- Interest rates
Before conducting swot analysis, there must be an objective like “want to increase sale with existing products”, “Exploring New Marketing” or "New product development". It will be better to target a business activity, project or a product rather than overall company level. By doing this you can get maximum benefits from this analysis.