what is swot

SWOT analysis is a strategic planning and management technique used to identify Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning. It is a planning process that helps organizations develop a full awareness of all the factors involved in making a business decision. SWOT analysis assesses internal and external factors, as well as current and future potential. It is designed for use in the preliminary stages of decision-making processes and can be used as a tool for evaluation of the strategic position of organizations of many kinds, including for-profit enterprises, local and national governments, NGOs, etc. . The primary objective of a SWOT analysis is to help organizations determine which new leads to pursue, overcome challenges, and develop a realistic, fact-based, data-driven look at the strengths and weaknesses of an organization, initiatives, or within its industry. SWOT analyses can be applied to an entire company or organization, or individual projects within a single department.