What's it about?
SWOT Analysis helps identify and position the key internal and external factors considered important in achieving organizational objectives:
Internal Factors are the identified strengths and weaknesses internal to the organization and relative to achieving a specific objective.
External Factors are the opportunities and threats from the environments external to the organization and usually not under the direct influence of the organization itself.
SWOT is a classical categorization technique that is often just the starting point for more in-depth analysis. It simply allows users to compile and list internal and external factors so that critical thinking can be exercised and important factors and objectives are matched for further treatment:
- Exploring new initiatives
- Making decisions about strategies and the best path of new policies/initiatives
- Identifying areas for change
- Refining and redirecting efforts of the company/association
The SWOT Analysis is an excellent, simple, communication tool that is referenced repeatedly to organize organizational information, hurdles, and potential solutions.
Who should use it
SWOT Analysis is for every business person, stakeholder, and informed decision maker who may be use it in all decision-making situations once an objective has been defined. It is often used in emergency first response or crisis planning, as well as in process and resource allocation planning.