Have you ever heard of a Personal SWOT Analysis? This analysis helps you understand yourself and consider your career.
SWOT analysis is one of the fundamental marketing theories every marketer needs to know. Many of us are familiar with the term and have probably used a SWOT analysis for school or company projects.
We have prepared the best six SWOT analysis examples with our students to enable you to understand all aspects of it.
What is SWOT?
SWOT (also known as SWOT matrix, SWOT analysis, and SWOT method) is a framework for identifying and analyzing a business’s internal factors, namely strengths and weaknesses, and external factors, namely opportunities and threats. The framework helps differentiate and establish unique opportunities for companies within a broader market to determine their strategic business directions.
The History of SWOT Analysis
Before we dive deeper into the framework, let’s understand the origin of SWOT. The history of SWOT analysis dates back to the 1960s. A management consultant from Stanford Research Institute, Albert Humphrey, and his team invented a framework to help businesses with more sustainable strategic planning.
The framework was initially introduced as SOFT Analysis (Satisfactory, Opportunity, Fault, and Threat). After a decade of work, Albert and his team eventually proposed a SWOT analysis that assesses criteria such as products, processes, customers, distributions, finances, and administration.
The Actual Meaning of SWOT
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. Strengths and weaknesses are internal factors within a company that can typically be controlled or changed. In contrast, opportunities and threats are external factors that companies cannot influence directly but can respond to strategically.
- Strengths describe what a business is good at, setting it apart from competitors.
- Weaknesses are barriers that hinder a company from performing at its best.
- Opportunities are external factors that could provide competitive advantages.
- Threats are potential elements that could harm the company.
Since its introduction in the 1960s, the SWOT framework has been widely used in business practices, but its application is not limited to business planning. It is also used for assessing products, places, industries, and individuals.
What is Personal SWOT Analysis?
A personal SWOT analysis is a method of individual assessment. It can be done at any stage in life to determine self-improvement, educational choices, career paths, or career growth opportunities. You can use a personal SWOT for self-assessment or social comparison.
Why is Personal SWOT Analysis Important?
When it comes to significant changes in your life, it involves gathering information, thinking, and analyzing. Conducting a personal SWOT analysis can help you avoid unforeseen mistakes because it requires you to address your strengths, weaknesses, opportunities, and threats.
You can understand well the following aspects:
- Strengths: Recognizing your advantages over your competitors/peers and positioning yourself to achieve your goals.
- Weaknesses: Identifying weaknesses allows you to develop a plan to bridge your gaps.
- Opportunities: Identifying opportunities helps you determine chances that guide you toward your goals.
- Threats: Recognizing threats enables you to build a defensive plan against potential obstacles and unexpected challenges.
Being aware of your weaknesses could be your biggest strength – Gordon Hester.
Personal SWOT Analysis Matrix
The personal SWOT analysis is presented as four quadrants:
- Internal Factors: Strengths and weaknesses.
- External Factors: Opportunities and threats.
To analyze these factors, ask yourself a series of questions related to your goal.
Steps to Conduct a Personal SWOT Analysis
Now, it’s time for you to take action. Here are the steps to complete your SWOT analysis:
- Ask Yourself Questions: Ask the right questions to determine your internal and external factors.
- Strengths:
- What do I enjoy doing?
- What are my unique skills?
- What skills do I have that others don’t?
- What do others see as my strengths?
- Weaknesses:
- What stops me from achieving my goal?
- What do I need to improve to achieve my goal?
- What are my bad habits?
- Opportunities:
- How can my network help me with my future career?
- How can my skills fill the need in the industry I want to work in?
- Is there any significant change in the industry I can take advantage of?
- Threats:
- Is my personality hurting my career path?
- Are my peers doing a better job than I am in the same position?
- Are there any skills my competitors have that I don’t?
- Is my financial situation impacting my goal?
- Strengths:
- List All Your Answers: Be honest with yourself. The more detailed your points, the better you can determine future improvements.
- Ask Others for Their Opinions: Although this is a self-assessment, asking others how they perceive you can uncover issues you might not have noticed. Our Career Service Center staff can support you as well!
- Gather Your Answers: Write down everything to prevent missing points. You can always eliminate unimportant issues later.
- Determine Your Solutions: Identify solutions that can help you achieve your goal. Ensure your answers are realistic and achievable.
Personal SWOT Analysis Examples for Students
To finish this article with style, here are examples from our volunteered students from Cornerstone College based on their career goals.
SWOT Analysis Example for International Business Management Students
The goal of Swethambari, who is currently studying the International Business Management Co-op Diploma Program, is to start a 3D printing start-up company and collaborate with designers.
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SWOT Analysis Example for Hospitality Management Students
Our Hospitality Management student, Karen’s goal is to have a career as a digital marketer in Hospitality Industry.
SWOT Analysis Example for Customer Relations Specialist Students
Our Customer Relations Specialist student, Mayu’s career goal is to work at an international school in Japan to help students.
SWOT Analysis Example for Web Development Students
Our Web Development student, Yumi’s ultimate goal is to become a front-end developer in Canada.
Tomas aims to find an IT consultancy job where he can professionally grow and use his strength, expertise and creativity.
SWOT Analysis Example for Network and System Solutions Students
Our Network and System Solutions student, Felipe’s career dream is to work as a System Administrator in a big company in Canada.
SWOT Analysis Example for Digital Marketing Specialist Students
Our Digital Marketing Specialist Diploma Program student, Naomi, has already strong entrepreneurial skills and her goal is to open and work in the marketing OT business industry.
Q&A for SWOT Analysis
When do you need to conduct a SWOT analysis?
As mentioned earlier, a personal SWOT analysis can be done at any stage of your life. The construction of the framework suggests that SWOT analysis should be one of the first methods in your strategic career planning. However, we recommend revisiting and revising your SWOT analysis from time to time.
How do you write the best SWOT analysis?
The best SWOT analysis is well thought out and well-executed, helping you see solutions. In other words, when your SWOT analysis is completed, you should know which step to take next.
How can I take advantage of my SWOT analysis results?
If your goal is to build your career in Canada, considering these alternatives can help you a long way. We have gathered some information that is available to you at Cornerstone College.
Remember, the more self-actualization you have, the better you can use your talents to the fullest extent. At the same time, you’ll have control over your weaknesses so that they don’t become long-term barriers to your career goals.
Consider Your Ideal Career with a Personal SWOT Analysis
Understanding yourself is essential. Utilizing a SWOT analysis enables the self-assessment necessary to consider your career. This method is also beneficial for interview preparation, making it highly recommended for everyone.
Additionally, at Cornerstone, we focus on career support. Our students can refine their analysis results with the help of the Career Service Centre staff!
