SWOT Analysis

A SWOT Analysis uses the structured approach presented by SWOT, to assess a person or organization’s competitiveness by evaluating internal and external factors to determine their strengths, weaknesses, opportunities, and threats. The assessment is made considering the context of the subject’s environment and other aspects deemed relevant and impacting success.  

How the SWOT Analysis is applied varies by the goals for the analysis, who or what is being analyzed, and the unique aspects influencing how the success is measured. SWOT Analysis may explore both the current state of strengths, weaknesses, opportunities, and threats or the potential for each. The SWOT Analysis helps to determine the possibilities and likelihood of something will occur or apply as it relates to various items that are evaluated.  

Each component of SWOT can lend to a new or different opportunity or discovery. For example, identifying strengths may provide a contributing asset for improving other areas of business or business needs. Review the 4×4 chart below for an example of questions that may be asked to help identify the details of each SWOT component.

References

Silva, N. (2015, December 9). Benefits of a SWOT Analysis and How to Fine Tune It. Retrieved from https://www.business2community.com/marketing/benefits-swot-analysis-fine-tune-01390531

Coman, A., & Ronen, B. (2009). Focused SWOT: diagnosing critical strengths and weaknesses. International Journal of Production Research, 47(20), 5677–5689. https://doi.org/10.1080/00207540802146130