rlex Posted November 21, 2021 Posted November 21, 2021 SWOT analysis is a simple strategic planning tool that organizations can use to assess the strengths and weaknesses of their company or project - and, ultimately, form a strong business plan. SWOT stands for strengths (S), weaknesses (W), opportunities (O), and threats (T). It’s one of the most commonly used tools when making decisions or analyzing a component of a business. You can use the SWOT framework to guide any type of business decision, such as repositioning your brand, launching a new product, or entering a new market. A SWOT analysis is often done in a matrix or table, divided into four categories, with a box for each of the four SWOT components. Brainstorming alone or with colleagues, make a list in each box of the main strengths, weaknesses, opportunities, and threats as they apply to your company or current project. Generally, strengths and weaknesses relate to internal factors within your organization while opportunities and threats are external factors. While it’s not essential to differentiate, internal versus external factors can help you see which factors you have control over and which are out of your hands. By doing a SWOT analysis, you can put all of your thoughts, concerns, and ideas into a written framework. https://www.techradar.com/news/what-is-a-swot-analysis
Premium
Recommended Posts