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The IT and software industry is probably one of the most lucrative industries currently. Along with its rise in popularity and revenue, there lies a stiff competition among other companies. Time is crucial in this business, that is why we have made various ready-made IT/Software SWOT Analysis Templates in Google Docs. All the templates in this range are customizable and printable, thus, you can find a perfect match for your business project, edit, and print instantly. These templates are professionally written and contain high-quality content. They will surely take your strategic planning to another level. Grab them now. Subscribe now and start downloading!
In the 1960s, Albert Humphrey invented the SWOT analysis at the Stanford Research Institute. This diagram analyzes the strengths, weaknesses, opportunities, and threats of a certain business or institution. It comes in various kinds, such as analysis worksheets, personal SWOTs, SWOT matrix, PowerPoints, and more. If you plan on creating a SWOT analysis for your IT/software company, we have a few tips below that you can follow.
Get all the IT/software reports from different departments of your company. Analyze them and see where your business stands in the market. Go over each document and determine the aspects of the company that needs improvement or those parts that should remain as it is.
After studying the current situation, you have to state your objectives. Be realistic and just aim for goals that are achievable for you and your team. If you don't have a clear objective for your company yet, perhaps a strategic software flowchart can help with that.
Now that you have your objective ready, it's time to fill in each part of the SWOT analysis. Make sure that each factor that you have come up with fits in the right category. Create a file in Google Docs and start filling the data you have gathered in four different tables. Each table should contain data on specific SWOT aspects.
With every factor you have come across, think of a solid conclusion to finish your analysis document. This can support your plans on addressing the problems of your company, as well as pushing it to bring more benefits. Our software planner templates can help you plan your next move.
Strengths and weaknesses are the internal factors of the business. These factors happen inside the company and are under your control. You can find ways to address these two when you finish your analysis.
Opportunities and threats are the external threats of the company, and they are out of your control. Threats bring harm to your company, while opportunities bring more benefits. You can only address these by coming up with solutions along with the weaknesses.
No. Every factor affects the business, one way or another.
Financial reports, market surveys, market analysis, competitor statistics, performance indicators, among others, are good sources when making a SWOT analysis. These documents can give you a clear picture of where your company stands in the market.
A large market share and a strong workforce are good strengths for a company. Some of its weaknesses include huge drops in sales, toxic company culture, perception of the public to your company, and limited availability of the products and services. However, an increase in sales is an excellent opportunity when there are actions towards achieving this. Just like every other business, competition is still the most common threat around.