SOAR Matrix Maker for Free

🤔 SOAR Matrix Maker: How It Works

Need to compose a SOAR matrix analysis? Don’t fall into despair! Essay4Business has a free, handy tool for automated SOAR matrix composition that requires only three steps from you:

  • Fill out the gaps in the form.
  • Choose the template among several proposed options.
  • Download the results in a convenient format (DOCX, PNG, JPEG, or PDF.)

The process is quick and intuitive, giving you a ready-made SOAR diagram within a few seconds. With its help, you can study smarter and do business-related tasks faster!

🚀 What Is SOAR Matrix?

So, what is a SOAR matrix, and how can it help in your strategic planning exercise?

SOAR is an acronym that stands for Strengths, Opportunities, Aspirations, and Results. These are the factors analyzed within the framework. It may seem similar to SWOT analysis, but in reality, they're a bit different:

  • SWOT analysis includes an examination of a company's weaknesses and threats.
  • SOAR is more forward-looking, and it includes only positive factors.

☑ How to Do SOAR Analysis

As you already know, SOAR analysis involves examining a company's strengths, opportunities, aspirations, and results. Here's what each factor is like:

💪 Strengths First, you need to list your company's key resources that can create a competitive advantage. Make sure to cover your USP, valuable know-how, and critical assets you currently have.
🔮 Opportunities In this section, you should consider the market opportunities your firm can embrace to grow and thrive. Analyze the current market trends, gaps in the existing market, business threats, and new markets for potential entry.
🚀 Aspirations This aspect relates to your organizational plans and ambitions. In other words, it’s the future you envision for your company and how you can make a difference. List the anticipated achievements and goals to set a more practical plan for their attainment.
🎯 Results Finally, you should cover the results you already have as well as performance metrics for the set goals. You can use a balanced scorecard to track your progress.

⚖ SOAR Analysis Matrix: Benefits and Drawbacks

It's important to keep in mind that a SOAR strategic planning framework is not a universal solution to all your business analysis needs. It comes with its pros and cons, which we have explained below.

✔ Benefits

  • It helps in strategic planning by showcasing the present situation and the desired targets.
  • It’s more positive in the company’s situation view than SWOT.
  • It’s suitable for startups.
  • It’s action-oriented and workable.

❌ Drawbacks

  • Vision and aspirations factors are a bit redundant.
  • This approach focuses on the company’s strengths but doesn’t offer in-depth analytics.

📑 SOAR Matrix Analysis Example

Here is a sample of SOAR analysis that you may perform with the help of our generator. We’ve taken Uber to show how SOAR works in practice. Check it out:

Strengths Aspirations
  • An intuitive, easy-to-use app.
  • Low entry barriers for users and drivers.
  • Excellent driver conditions and terms (low idle time, high salary.)
  • To grow into the world’s top taxi provider.
  • To establish a strong presence in the untapped territories.
Opportunities Results
  • Broader international expansion.
  • Service differentiation from other market players.
  • Flexibility for users and drivers.
  • To achieve annual operations improvement by 50% (within the coming two years.)
  • To achieve profit growth by 25% a year (within the coming five years.)

Thank you for reading! We hope you liked our free SOAR tool and will give it a try. You're welcome to use our other business tools:

🔗 References

  1. SOAR Analysis: Libraries: University of Missouri
  2. S.O.A.R Analysis: Lipscomb University
  3. What Is the SOAR Analysis?: Arizona State University
  4. What is and How to Use SOAR Analysis?: Project Cubicle