How can you use SWOT analysis to gain stakeholder buy-in?

Weave the SWOT analysis into a compelling narrative that tells a story. Help stakeholders understand the journey from identifying strengths and weaknesses to crafting effective strategies that align with opportunities and threats.

My Strategy professor (in my MBA program) had us conduct SWOTs by starting with the OT (the external forces) first, before diving into SW (the internal forces). This allowed us to consider the market, the macroenvironment, and the world in which we exist before considering who we are and how we fit into it.

I do SWOT differently. I build a spreadsheet with the internal factors (SW) on the left and the external factors (OT) across the top. I then have the participants score the impact each strength and weakness has against each opportunity and threat. That enables the group to fully analyze the SWOT and determine which strengths to build on, which weaknesses to correct, which opportunities you can tackle and which threats to defend against. It provides a far better understanding.

I've conducted SWOT analyses alone, with teams, and across companies, and every experience has been unique due to the various dynamics. If you have every team at your company perform a SWOT, then you review all of the SWOTs together and discuss the overlaps, you can explore the context behind why certain elements are listed in certain quadrants, what you can change as a result, and even why you are okay with some things being the way they are. Beware of subjectivity in the team SWOTs and be sure to elevate the combined SWOT to a strategic, cohesive, comprehensive view.

The four-quandrant grid has never been useful. You need a more analytic way to assess your internal capabilities versus external factors. The analysis requires more than 4 boxes. Insight is gained through assessing each strength and weakness against each opportunity and threat, otherwise, you are using gut feel to make decisions.

I always recommend using a diagnostic framework for problem analysis. SWOT analysis framework is a clear winner for me because it is so easy to understand. The biggest benefit is that when you use a SWOT, you get a chance to clarify assumptions on the table with other stakeholders. This way, your recommended strategy/list of actions can be changed as your perspectives get enhanced with the collective perspectives and discussion.

SWOTs can help you match strengths to opportunities, which will help you see how your company can exploit positive market conditions and produce favorable outcomes using things you already do well. SWOTs can also help you explore the weaknesses you want to fix or the market threats you'll need to attenuate in order to be successful.