Introduction to SWOT Analysis

The BA Guide | Jeremy Aschenbrenner
A free video tutorial from The BA Guide | Jeremy Aschenbrenner
Business Analyst Trainer and Coach | Best Selling Instructor
4.5 instructor rating • 13 courses • 236,961 students

Lecture description

Welcome to the SWOT Analysis visual model. This lecture will take you through the basics of the technique.

**This lecture contains (as a resource) the slide deck for this section. Feel free to download and utilize for your notes.**

Learn more from the full course

Business Analysis Modeling Skills & Techniques

Learn to create Process Flowcharts, User Stories, Use Cases, SWOT, RACI Matrices, Org Charts, User Stories, and more!

06:15:43 of on-demand video • Updated April 2021

  • Create EIGHT different visual models including Process Flowcharts, Use Cases, SWOT Analysis, RACI Matrix, Org Charts, Scoring Matrix, Stakeholder Maps, and more!
  • Understand how visual modeling can help in daily requirement activities.
  • Ability to read and create important business and technical visual models.
  • Utilize visual modeling to make requirements come alive.
  • Ability to choose the best visual model to aid in various situations.
  • Increase your project success by giving your stakeholders a clearer understanding of your vision.
  • Confidently explain and demonstrate the uses of visual models in an interview.
English Hey everyone. Jeremy Aschenbrenner here with the BA guide here to teach you about SWOT analysis. So obviously the first thing we're going to do is talk a little bit about what can be found in this section and what we're going to cover SWOT analysis our first lecture is going to be all about defining SWOT analysis. That's really the basics. What is SWOT analysis. Why is it used and what does it accomplish. Well then move into breaking down the SWOT So we'll go through each piece of it and give you a full understanding of what you're trying to show with the SWOT analysis and what each of the individual cells which we'll talk about in a little bit what they mean in kind of what you're going to put there. And there's no point in going over anything if we don't walk through something practical to kind of give you something to tie it to and make you understand the concepts tied to a real world scenario. So we'll go through a practical walkthrough. Well then jump into the BA guide template for SWOT analysis. There is a template free download up in the course downloads lecture of this course so hop up there if you haven't downloaded it already snagged that you can use that on for the practice that you'll do the activity that you'll do a little bit later in the course or use any of your projects for now or future employers. And then finally we'll get into the student exercise that I alluded to this will be where you go in and actually utilize the knowledge that you've gained throughout this section of the course and make sure that you've got a full understanding of it will have you actually complete a SWOT analysis. So let's start out with what is SWOT. SWOT is a simple and basic diagram that helps to show your strengths weaknesses opportunities and threats. So is generally used by organizations. If somebody is thinking about starting an organization or a company they may complete a SWOT analysis. If a company is looking to go maybe in a new direction or looking to identify a new direction that they could go in maybe their market is changing maybe they want to they feel that they've really fulfilled everything they can in a certain niche or with a certain product or service that they have now and they want to expand their horizons. A lot of times they'll do SWOT analysis to help bring some of those ideas out and help understand what their opportunities are. But it also can be used by you as a person you can complete a SWOT analysis from a personal perspective to understand you know maybe it's you're going for a business analyst job and you're trying to land that first job and you want to understand OK what are my strengths what are my weaknesses where can I improve. What are some threats to me. And you can complete a SWOT analysis that way. So as we go through the course and as we break down SWOT We'll break it down both from a personal as well as an organizational type of method. So why is SWOT used? Well the number one thing is to identify influencers. So as you can see on the little chart on the right here this is kind of what a normal SWOT analysis diagram will look like. You've got a box here this will contain all your strengths. You have a box in the upper right that will contain all of your weaknesses. Bottom left is opportunities and bottom right is your threats and don't worry we go through each of those you understand exactly what you're looking to put there. But the reason I bring this up now is there are two different types of influencers. You have internal influencers. Those are influencers so if you're talking about an organization that you're you're looking into the organization to determine your strengths and your weaknesses so internal is kind of this little rectangle right here. So it includes your strengths and your weaknesses. And again that's you're looking into your company or into your self if you're doing a personal Swat. There are also our external influences that's down here in the bottom of the SWOT that's your opportunities and your threats. So this is whether it's an organization or personnel you're looking outside of that element in looking at other elements. And again we'll break that down a lot more as we kind of go through the SWOT. But I want to give you at least a base understanding that there are two different types of influencers internal. Which is your strengths and your weaknesses and external which is your opportunities and threats. SWOT is also used to uncover new opportunities. So it's to help kind of push to that next level open up a new department finding new product or service that you can offer help you land a business analyst job or move up in your career. So the SWOT can help to do that. And also it can raise awareness. Some people will do a SWOT just to say you know what we're kind of in a funk. Let's do a SWOT analysis. Let's understand where we sit and it this SWOT analysis can help to really help set up your next steps and where you should take you know kind of the next stage of the organization or are you at a personal level. So what does the SWOT accomplish what it does is it helps you to create a strategy. You're going to have a lot of opportunities you're going to see weaknesses you're going to see things that come up that if you want to sat back and reflected on it you probably would have never thought of it or it wouldn't be as easy but because you put together a SWAT analysis now you can create a strategy and you can say OK here's some opportunities here some things that we want to do in here. We've understood the pros and cons of doing that and you can make a strategy execute on that strategy which ultimately hopefully will push you into success right. You want to have that that new venture be a success. So what the SWAT accomplishes is helping you understand where you can go and some of the challenges or hurdles you may face in getting there.