SWOT Analysis
Overview
The purpose of this lesson is to identify the components of a SWOT analysis. Students will be able to define each of the terms for SWOT with business setting in mind. Once finished, students should be able to analyze a company and identify its SWOT components.
SWOT Introduction
This is where you put information for the teacher to teach the task or support the task
Goals for this lesson include:
- Identify the components of a SWOT analysis.
- Define each of the terms for SWOT with business setting in mind.
- Analyze a company and identify its SWOT components
What brands of shoes do people wear?
Why might these brands be so popular?
What could they possibly approve upon?
What are some weaknesses these brands have, in your opinion?
The answers you just gave to the questions above are key answers to current companies! You just completed an activity that is known as a SWOT analysis.
SWOT = Strenths
Weaknesses
Opportunities
Threats
Review the descriptions below for your undertanding and review.
- Strength- describes what an organization excels at and separates it from the competition: things like a strong brand, loyal customer base, strong balance sheet, unique technology, and so on. (Internal Influence)
- Weakness- what stops an organization from performing at its optimum level? They are areas where the business needs to improve to remain competitive: things like higher-than-industry average turnover, high levels of debt, or no social media presence. (Internal Influence)
- Opportunity- refers to favorable outside factors that an organization can use to give it a competitive advantage. For example, a car manufacturer may be able to export its cars into a new market, increasing sales and and reaching untapped consumers. (External Influence)
- Threat- refers to factors that have the potential to harm an organization. Common threats include things like rising costs, increasing competition, tight labor supply, and so on. Weather could also be a threat for agricultural businesses (External Influence)
Let's Practice!
This is an in class activity. Choose a company that all students are familiar with, like McDonalds. Explain that the student will work in groups to generate a SWOT analysis of McDonalds. Place four pieces of chart paper around the room. The class will be broken up into four groups with different colored markers. They will rotate around the room and write down one attribute of the company for each SWOT component. The students will be instructed not to write something that has already been provided by a different group. After the activity is completed, the students will go back to their seats and we will discuss each of the attributes written down for the given company.
(This could also be done in smaller groups/partners at their seats if you have a larger class. If chosen to do this way, I would have them divide a piece of paper into 4 sections and complete at their tables with their group/partner and then share out as a class.)
Think about a famous restaurant chain.....
What are some examples?
Let's choose one to work with as a class!
Partner Practice
You are now going to work with a partner and complete a SWOT Analysis!
Think about a LOCAL BUSINESS or an EXTRACURRICULAR ACTIVITY that we offer at our school that you would like to work with. You and your partner will choose one organization to focus on for this activity.
See the attached link for completion of this activity.
Now it's YOUR turn!
You should now be ready to complete a SWOT Analysis of your own!
You will complete the linked file for completion of this activity. You are to choose a business that has not been discussed today in class to focus on. Use our class discussions as a guide for completing this, as well as the guiding questions for each section.