What is a Swot Analysis?

As part of our ongoing payments, we offer internal audit support and prepare documents that adhere to certain clauses within each of the ISO standards we offer.

In a previous article of ours we explained that under clause 4.1 of ISO 9001; “The organisation shall determine external and internal issues that are relevant to its purpose and its strategic direction and that affect its ability to achieve the intended result(s) of its quality management system.

The organisation shall monitor and review information about these external and internal issues.”

But what does this mean?

Businesses are expected to address the risks and opportunities as determined in accordance with the requirements of 6.1 and analyse the relevant needs and expectations of workers and other interested parties and must evaluate all internal and external influencing factors.

As part of the evidence to support clause 4 and 5 and adhere to ISO 9001 and other ISO standard’s compliance, Compliant work with clients to complete a SWOT analysis.

Read on to discover what a SWOT analysis is.

What is a Swot Analysis

A SWOT analysis is developed to review and document the Strengths, Weaknesses, Opportunities and Threats for a business.

A SWOT analysis is often used during the process of strategic planning and works well when implementing a quality management system such as ISO 9001. The framework is a great tool for decision-making as it helps an organisation to identify previously unidentified prospects for success. It can also flag areas of concern before they become too serious.

As part of our management system creation, we offer a proven SWOT template that is populated generically and appropriate for stage 1 and stage 2 audits.

Next comes the surveillances where we encourage clients to opt for our ongoing payments to ensure they have access to our pre audit support which includes the bespoking of the generic SWOT ahead of audits.

When working on a SWOT analysis our internal auditors help clients to look for areas where they might have a competitive advantage including certain market segments.

Elements of a Swot Analysis

We base our SWOT analyses on real-world knowledge and information; working directly with clients to ensure each area is up to date and accurate. There are 4 areas that our internal auditors consider including:

Internal:

Internal variables that support overall business success are considered. This includes finances, investment opportunities or lack of, skillset of workforce, training, brand and reputation. Details on each of these areas can be explored with our internal auditors and expanded upon.
Internal resources and qualities that contribute to success are also considered. These include product range, areas where products are enhanced or developed, devoted clients and customer loyalty, good or poor customer service and post purchase support.

External

External elements that a company can benefit from are reviewed. These could include tax breaks, advantageous export tariffs, or new enabling technology.
Other external issues that are reviewed include heightened competition, declining demand, or a risky supply chain. We encourage clients to note anything that could endanger a company’s success rate.

Examples for your Swot

Below we have provided some SWOT examples;

Strengths

staff expertise
brand recognition
internal knowledge of or exposure to a certain subject
intangible assets
offering value for money
strong partnerships
thought-leader skills
community relationships
competent team members and leadership
ability to diversify
key industry contacts
characteristics that set you apart from rivals

Weaknesses

restricted ability to take on completely self-delivered work
limited integration options
absence of a centralised customer feedback
lack of knowledge or experience in a certain field
lack of resources for product development
fewer product options
poor brand awareness
lack of time to plan strategically while meeting operational requirements

Opportunities

business relationships – promoting service offering and brand awareness
new requirements that your product can offer value for
ability to bid for and win tenders
new outlets for marketing and promotion and/or new markets
developing client list and increasing amount of referrals are occurring
strategic alliance
potential to grow the business

Threats

reliance on one manager to drive strategy
increased rivalry
a product that is outgrowing the market
security and privacy issues
changing consumer viewpoints
a small or risky market
uncertain political or economic climates
effect on the amount of new business being offered within the industry
pandemics

How a Swot Analysis can support clauses 4 and 5 of ISO 9001

The current strategic positioning of any company can be quickly and clearly communicated through the use of a SWOT analysis. Our fully trained auditors understand the clauses within each standard and develop SWOTs with clients to ensure they are unique and audit ready.

We encourage all companies to use their SWOT analyses to help understand where they stand now and in the future in the market or in relation to a certain objective. Our auditors can show how all of this can be effectively documented within management system packs.

If you’re looking for support on your next ISO project, more information can be found on our services page here.