The essence of this method lies in its name, according to the acronym in the translation of s - (strengths), (weaknesses), (opportunities) and (threats). To do a swot analysis must strictly follow the following rules:First and most important thing is to choose an object of analysis and to formulate the purpose of the study. If you select organization as the object of analysis, it will not lead to the desired results, it is necessary to analyze the relationship such as the Bank and those who are interested in it.
Make a list of strengths, weaknesses, threats and opportunities, bearing in mind that strengths and weaknesses are factors that are peculiar to the examined object), and the opportunities and threats that surrounds the object and what cannot be controlled.
By completing the SWOT matrix, it is necessary to analyze how to use strengths to help prevent the threat environment and helped to apply emerging in the external environment capabilities. As for weaknesses, you need analysis, how to use them, so as not to hinder emerging opportunities and counteract threats to the environment.
It is important not to forget about the "time factor", in the case of the analysis, for example, within 10 years, we cannot ignore the fact that external factors can change.
What aspects are strong and which are weak - this question is quite complex and easy to make a mistake that will erase the result of the work, therefore the author of the analysis should not be one person, it makes more sense to organize a working group.
When you make a list of external opportunities and threats, think about the market, not your company. Properly formulated opportunities and threats are those both for you and for your competitors.
To do swot analysis is important, but after drawing up the SWOT matrix, it is also necessary to understand how to improve their own activities. Calculate which of the strong or weak sides there are more opportunities and threats, and they are the most important internal factors that require your attention. Be able to change them, will significantly improve things in your company.