SWOT analysis:

• It refers to a technique used for determining strengths and weaknesses and determining both the opportunities available for you and the threats existing for you.
• This analysis can be conducted for both business and personal context.
• In case of business context, it allows you to maintain a sustainable position of your company in the market.
• On the other hand, when this analysis is conducted in personal context, it helps in developing your career and also guides you on how you can best utilize your talents, skills and opportunities.
• Business SWOT analysis is helpful in uncovering the opportunities that can be used by you for better placement in the market.
• By knowing the threats and weaknesses to your business, elimination of those threats and weaknesses that may affect your business in future can be done.
• Moreover, you can assess yourself and your competitors using the SWOT framework and plan the future strategy.
• The SWOT analysis tool was created in 1960s by Albert S Humphrey, which is as beneficial now as it was at that time.
• It is obvious that strengths and weaknesses are internal to your organization, while opportunities and threats are basically related to external factors.
• Due to this reason, SWOT is sometimes called Internal-External (IE) Analysis and the SWOT matrix is also known as an IE matrix.

STRENGTHS:

The factors that determine the strengths are as follows:

• What are the advantages of your organization?
• What do you do to perform better than others?
• What are the unique or lowest cost resources that you can utilize?
• What are your strengths that are appreciated by others in the market?
• What are the factors that signify that you get the sale?
• What are the traffic sources that are performing well for your business or site?
• Which projects or partnerships are helping in enhancement of traffic or profits objectives?
• What are the sections of your information that are generating ROI and high traffic?

• What are the modifications done historically that generated significant value?

  You must evaluate your strengths from both an internal perspective and from the opinion of your customers and competitors in the market. Moreover, if you are finding any difficulty in identifying strengths, then enlist the characteristics of your organization. Some of the characteristics may be your strengths. When looking at these strengths, you must consider them in the perspective of your competitors.

WEAKNESSES:

The factors that determine the weaknesses of your organization are as follows:

• What are the areas of improvement?
• What should you avoid in future projects?
• What are the factors of reduction in revenue?
• What type of content is driving low levels of search or visitor traffic at present?
• What are the changes that were expected to provide positive consequences showing little or no value?
• Which sources of traffic are not performing or delivering well?
• Which projects or partnerships can be treated poor? The identification of weaknesses is tougher because it takes more intellectuality honesty, and courage. This identification makes you realistic and allows you to be prepared for facing any unpleasant truths as early as possible.