Use SWOT to Identify Opportunities and Mitigate Risks

The SWOT-matrix is a strategic planning tool used to understand and identify strengths, weaknesses, opportunities, and threats in an organization.

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Strengths: Which characteristics of the business or project gives it an advantage over others?

Weaknesses: Which characteristics of the business or project places it at a disadvantage relative to others?

Opportunities: Which elements in the environment could the business or project exploit to its advantage?

Threats: Which elements in the environment could cause trouble for the business or project?

 

Why use the SWOT-matrix?

Using the SWOT-matrix has many advantages:

  • Intuitive way to map internal characteristics of your business and external elements in your environment that may affect your business
  • Lets you visualize how you can use your strenghts to exploit opportunities or reduce risks
  • Easy way to structure your brainstorming and encourage conversation in your team

 

How to Create Your SWOT-matrix in Upwave

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The easiest way to utilize the SWOT-matrix is to use an online tool, like Upwave, where you can update the canvas in real-time and collaborate with your collageus. To get started with SWOT in Upwave, go to templates and choose “SWOT”. To add a card, just click inside the box where you want to add it. Try to keep the text short and concise. Use different colors for strengths, weaknesses, opportunities and threats.

Get started with your SWOT-matrix

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