Question
SWOT is one of the most commonly used analysis tools in business but what does it analyse?
Answer
4
(313 Votes)
Norma
Expert · Tutor for 3 years
Answer
SWOT analysis is used to analyze an organization's Strengths, Weaknesses, Opportunities, and Threats.
Explanation
## Step 1:SWOT is an acronym that stands for Strengths, Weaknesses, Opportunities, and Threats. ## Step 2:The SWOT analysis is a strategic planning tool used to identify and analyze these four elements in a business or project. ## Step 3:Strengths and weaknesses are internal factors that are within the control of the organization. They could include things like resources, operational capabilities, and brand reputation.## Step 4:Opportunities and threats, on the other hand, are external factors that are outside the control of the organization. They could include things like market trends, economic conditions, and regulatory changes.## Step 5:By analyzing these four elements, the SWOT analysis provides a comprehensive view of the strategic position of a business or project. It helps in decision-making by revealing opportunities and threats that can be exploited or mitigated, and strengths and weaknesses that can be leveraged or improved.