The traditional SWOT matrix is shown in the left-most cell of the picture at right. (Click to make it larger.)

Rearrange the SWOT matrix as shown in the centre diagram.

Now review the Strengths against the Opportunities to find high-priority Growth strategies.

Find Threats that synergise with Weaknesses to help think of ideas you can develop into key strategies for Survival.

Now do the same with Strengths and Threats to identify areas for External fixes.

And similarly, find Weaknesses and opportunities to develop Internal fixes.

What's the best strategic initiative uncovered through this technique? with your best strategic initiative.