Description
A SWOT analysis is a strategic planning tool that helps a business entity identify their strengths and weaknesses, as well as opportunities and threats that may exist in a specific business situation. A SWOT analysis is most commonly used as part of a sales or marketing plan, but it is also a good tool for agile teams to use as a starting point for projects or sprints.
A SWOT analysis is usually depicted as a square divided into four quadrants. Each quadrant represents one element of the SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats).
Typical Roles
Product Owner
Stakeholders
Agile Team
Scrum Master
Desired Behaviors
- 1.A series of questions are used to begin filling in each quadrant. Start with strengths:
- a.
What do we do well?
- b.
What are our unique skills?
- c.
What expert or specialized knowledge do we have?
- d.
What experience do we have?
- e.
What do we do better than our competitors?
- f.
Where are we most profitable in our business?
- a.
- 2.Weaknesses may include attributes that will impede progress in achieving objectives. Ask questions, such as:
- a.
In what areas do we need to improve?
- b.
What resources do we lack?
- c.
What parts of our business are not as profitable?
- d.
Where do we need further education and/or experience?
- e.
What costs us time and/or money?
- a.
- 3.Opportunities are external conditions that will help you achieve your objective. Ask questions, such as:
- a.
What are the business goals we are currently working toward?
- b.
How can we do more with existing customers or clients?
- c.
How can we use technology to enhance our business?
- d.
Are there new target audiences that we have the potential to reach?
- e.
Are there related products and services that provide an opportunity for new business?
- a.
- 4.Threats are external conditions that could damage your business’s performance. Ask questions, such as:
- a.
What obstacles do we face?
- b.
What are the strengths of our biggest competitors?
- c.
What are our competitors doing that we are not?
- d.
What is going on in the economy?
- e.
What is going on in the industry?
- a.
- 5.Follow up on the SWOT analysis:
- a.
Create a plan to build strengths.
- b.
List ways to work on mitigating weaknesses.
- c.
Create a plan to use strengths to eliminate the threats.
- d.
Combine strengths and opportunities to develop new strategies.
- e.
Review weaknesses and opportunities to create improvement ideas.
- a.