⊿ Point. {R} Glossary. ◢ Keyword: S. ◥ University. {q} PhD. {tr} Training. ⚫ UK. ⚫ England. ⬤ London. ↂ EndNote. ☗ MDX. MDX: PhD. ↂ Blogger. RSK666-0000008. RSK666-0000062. RSK666-0000063. RSK666-0000069. RSK666-0000092. SWOT analysis. Business planning and analysis technique SWOT analysis (or SWOT matrix) is a strategic planning and strategic management technique used to help a person or organization identify Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning. It is sometimes called situational assessment or situational analysis.[1] Additional acronyms using the same components include TOWS and WOTS-UP.[2][3] This technique 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 (for-profit enterprises, local and national governments, NGOs, etc.).[4] It is intended to identify the internal and external factors that are favorable and unfavorable to achieving the objectives of the venture or project.
Overview[edit] The name is an acronym for the four components the technique examines: Internal and external factors[edit] Use[edit] Strategy building[edit] SWOT analysis. A SWOT analysis, with its four elements in a 2×2 matrix. A SWOT analysis (alternatively SWOT matrix) is a structured planning method used to evaluate the strengths, weaknesses, opportunities and threats involved in a project or in a business venture. A SWOT analysis can be carried out for a product, place, industry or person. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective.
Some authors credit SWOT to Albert Humphrey, who led a convention at the Stanford Research Institute (now SRI International) in the 1960s and 1970s using data from Fortune 500 companies.[1][2] However, Humphrey himself does not claim the creation of SWOT, and the origins remain obscure. The degree to which the internal environment of the firm matches with the external environment is expressed by the concept of strategic fit. Matching and converting[edit] Use[edit] Strategy building[edit] Personal SWOT Analysis - Career Planning from MindTools.com. Making the Most of Your Talents and Opportunities Learn how to conduct a personal SWOT Analysis.
Chance favors the prepared mind. – Louis Pasteur You are most likely to succeed in life if you use your talents to their fullest extent. Similarly, you'll suffer fewer problems if you know what your weaknesses are, and if you manage these weaknesses so that they don't matter in the work you do. So how you go about identifying these strengths and weaknesses, and analyzing the opportunities and threats that flow from them? What makes SWOT especially powerful is that, with a little thought, it can help you uncover opportunities that you would not otherwise have spotted. If you look at yourself using the SWOT framework, you can start to separate yourself from your peers, and further develop the specialized talents and abilities you need to advance your career. How to Use the Tool Strengths Consider this from your own perspective, and from the point of view of the people around you.
Tip: Weaknesses.