SWOT Analysis

SWOT analysis is a strategic planning technique used to help a person or organization identify strengths, weaknesses, opportunities, and threats related to business competition or project planning. SWOT assumes that strengths and weaknesses are frequently internally-related, while opportunities and threats commonly focus are due to the external environment.

• Strengths: characteristics of the business or project that give it an advantage over others.

• Weaknesses: characteristics of the business that place the business or project at a disadvantage relative to others.

• Opportunities: elements in the environment that the business or project could exploit to its advantage.

• Threats: elements in the environment that could cause trouble for the business or project