Doubtlessly, you know that when you are all set to present your ideas, thoughts, and concepts or discuss important strategies and their results, presentation slides vocalize your ideas in much better a way and this is why, you reserve a special place for visual aids when you have to communicate your thoughts.
But bringing out time from your already hectic schedule and spending several hours just for creating visual aids right from the scratch isn't a good idea at all. With pre-designed customizable templates with option for editing, improvisation and content addition; you just don't need to spend all your precious time in crafting out an attractive slide. SWOT Analysis, as a concept, is quite broad and generic and thus, it can be used in various fields, aspects and all the different verticals of a business. This adds more versatility to pre-designed slide templates.
You simply have to pick up a professionally created customizable power point presentation slide and edit it according to your needs and there you are ready with most enthralling visual aids to accompany your verbal discourse. This will not just save a lot of your time and energy but will also give you more scope for formulating better concepts and strategies and dwell more on their outcomes.
SWOT analysis or SWOT Matrix is a framework that identifies and analyzes how the internal and external factors impact a certain project, product, place, industry, or person on the basis of 4 major elements - Strengths, Weaknesses, Opportunities, and Threats; the first letter of these 4 elements are taken together to form the acronym that forms this popular framework.
This structured planning technique was brought to light by Albert Humphrey. He tested the idea at Stanford Research Institute (SRI) in 1960s and 1970s by taking the data from various Fortune 500 companies for the purpose.
This is an effective approach that works exquisitely well in business development strategy planning and in decision making in various other industries. Its versatility and effectiveness has popularized it in almost all the major areas of corporate planning. From setting newer objectives to analyzing currently used strategies and other factors such as the existing issues, possible issues in the future, establishing success factors, developing and implementing newer schemes or revising the ones that are currently used, to creating the provision for right resource, and result monitoring, it is used in every area you know.
You can use it in varied purposes such as in workshop sessions, brainstorm meetings, some kind of problem solving, competitor evaluation, marketing research, personal development, product evaluation, development & planning, and all kinds of decision making. Some of the major aims of this approach include analysis of sales prospects, practicality of your product development process, profitability of your business; preparing your team for upcoming crisis or problems; getting better picture of your market and bringing out your competitive advantages; and so on.
Whether you are dealing with the finances of an organization or you are handling the marketing research for improvising the strategies that you currently follow, this planning method always work well in analyzing all the internal and external factors affecting the viable outcomes of your decision.
When you are using this matrix for analyzing the strengths, weaknesses, opportunities, and threats related to any vertical for any particular purpose right from the conceptual level of your business to the distribution, sales and promotional phases of your product and services; it is an obvious that you will need to include it in your presentations if you aim at communicating essential information to your business partners, stakeholders, team or workforce or to your customers, clients, distributors and others who plays a vital role in your venture.
So, whether it is one of the initial planning phase meetings where you have to give your concepts or it is a team-meet up for sharing priorities, important factors, schemes and basic guidelines for project handling or task management at some later phase, it is always essential to check where your decision can have a negative impact and where it will come up successfully and in this SWOT plays a really vital role.