SWOT stands for Strengths, Weaknesses/Limitations, Opportunities and Threats. A SWOT analysis is a method of analyzing internal factors a business can control and external factors it cannot control. A company's strengths and weaknesses are examples of internally controlled factors. Opportunities and threats are external factors. This type of analysis can be used on a departmental or functional basis, such as a company's security.
Computer software and hardware systems that are protected with firewalls, anti-malware and anti-virus programs are a strength. Another strength are employees who respect the need for using the correct passwords and use computer systems and apps only for work-related projects. If all the windows and doors lock, and are they locked after business hours, this is a strength. If patents, copyrights, trademarks, and trade names are all protected under law, this is a strength.
Weaknesses of Security
Lack of funding for security purposes is a weakness that can be difficult to overcome. Consider what a security breach would cost you in lost equipment, sales or time, then allocate funds to protect areas with the highest potential losses. You can overcome an employee's lax attitude toward security with additional training and encouragement. Not enforcing intellectual property protection is a weakness that can result in a weakened brand and lost sales. A lax attitude about updating software protection is another weakness.
Correcting some weaknesses, such as installing new security systems, will cost money. But other efforts, such as reminding employees of the importance of locking the workplace after hours, are free. A small effort such as changing computer passwords to random strings of numbers and letters could prevent unauthorized computer access.
New security systems and products come on to the marketplace on a regular basis. For example, cloud computing gives a small business data storage only when the businesses requires it. This means the business does not have to buy servers and other equipment that will not be used to their capacity. The data is secure and backed up by the outside company. The money saved could be put toward additional security measures.
Mother Nature is another security threat when it comes to storms, fires, earthquakes and flooding. Back up important information and documents to help prepare for these disasters. You should also be aware of, and prepare for, new computer viruses, hacking and phishing attacks. Make sure you keep your computer systems protected with the latest and best anti-virus software. Threats also come from dissatisfied customers, disgruntled employees or unethical competitors. They might try to speak negatively about your business on websites or social media sites. You should run a search of your business regularly to find out who is making negative comments about it. If the comments are untrue or blatantly unfair, do something about it. Counter them with comments of your own, or address them on your own website.
Develop a SWOT security analysis for your own business. Conduct surprise audits on employees to see if they're following company policies. Follow security measures yourself so employees have a good example.
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