What is the SWOT analysis?
A SWOT analysis is a tool for assessing an organization’s strengths, weaknesses, opportunities, and threats. It is typically used by businesses during strategic planning exercises, but can also be used by individuals to assess their own skills and attributes. The SWOT analysis can be used to identify an organization’s internal and external factors, and to create a plan for addressing them. The SWOT analysis should be used in conjunction with other planning tools, such as financial forecasting and marketing planning.
The SWOT analysis is not a static exercise; it should be revisited on a regular basis to ensure that the organization’s plans remain relevant. The SWOT analysis is just one tool that can be used to assess an organization; other tools include the PESTLE analysis and the Five Forces analysis.
The SWOT analysis should be used in conjunction with other planning tools such as financial forecasting and marketing planning.
