SWOT Analysis doesn’t speak to your business philosophy? Try these alternatives.
Updated by Xtensio
SWOT is an age-old tool used in business strategic moves and is still popular today to kick off strategic planning processes. It breaks it down into Strengths, Weaknesses, Opportunities, and Threats. But is it still relevant in a rapidly changing world? Does it ask the right questions for startups or organizations looking to transform themselves? What are the alternatives? We curated some alternatives to SWOT Analysis that take different approaches to business. Philosophically, operationally, and practically. The templates below come with helpful guidance to help you conduct your research and fill in the sections. Click and use the ones that best resonate with you and your organization.
Try it first! If you like Xtensio’s easy online editor create an account to save your edits.
SOAR Analysis takes a visionary and aspirational approach to analyze how your business stands on the playing field. Stands for Strengths, Opportunities, Aspirations, and Results. Get started with Xtensio’s instructional template.
We all saw how our entire world toppled with a global pandemic and how forces larger than you may affect your organization, big or small. Become attuned to Political, Economic, Social, Technological, Legal, and Environmental forces surrounding your company with our instructional PESTLE Analysis template.
Take a solution-focused approach to analyze the current state of your organization in order to develop short and long-term plans.
Complete the five sections of the NOISE Analysis to review your company’s Needs, Opportunities, Improvements, Strengths, Exceptions. Work on this together with your team, to hone in on findings that are actionable right away.
PORTER’S FIVE FORCES Analysis
SWOT’s close friend, and perhaps first rival Porter’s Five Forces helps obtain a broad perspective of the industry in which your organization is striving to exist. That said, the fragility of global economic, social, and political systems calls for an adaptive mindset, and a creative ability to fill in the gaps left by traditional business frameworks like this one.
Taking the traditional SWOT Analysis a step further, the TOWS analysis specifically allows you to connect Strengths and Weaknesses to Opportunities and Threats to help create actionable strategies from those findings.
And of course, the good old SWOT (Strengths, Weaknesses, Opportunities, Threats) to help navigate your business’ competitive standing in the field. Go to our SWOT How to Guide to learn more about it and check out some editable examples of completed SWOT Analysis.