Explain the definition of the SWOT analysis to students, ensuring they fully understand how strengths, weaknesses, opportunities and threats are used to evaluate situations.
Instruct the students to divide a sheet of paper into four sections, then write one letter of the SWOT acronym in each section. This type of chart is frequently used to demonstrate the SWOT analysis.
Give the students a hypothetical scenario about which you can engage in a group discussion. The scenario could be about an individual who is considering quitting his job to open his own business. He has been planning to open his own business for several years and is deciding whether it is a viable option.
Instruct the students to brainstorm and write down the strengths of this scenario. One strength could be that the individual would like his job more and feels it's easier to succeed in a career about which he is passionate.
Instruct the students to individually brainstorm the weaknesses associated with this situation. A weakness could be that once the individual goes into business for himself, he will no longer have a guaranteed, steady income.
Instruct the students to brainstorm the opportunities associated with the situation. An opportunity could be the chance to make more money than at his previous job.
Instruct the students to brainstorm the threats associated with the scenario. A threat to entrepreneurship is the risk of having your company go bankrupt.
Engage in a class discussion about the strengths, weaknesses, opportunities and threats associated with this scenario. Ask students what decision they believe the man should make based on the findings of the SWOT analysis. If necessary, present the students with different scenarios or a written assignment based on the SWOT analysis evaluation tool.