What is a SWOT Analysis?
When analyzed together, the SWOT framework can paint a larger picture of where you are and how to get to the next step to improve the organization's strategic activities to be cascaded throughout the enterprise.
SWOT stands for: Strength, Weakness, Opportunity, Threat. A SWOT analysis guides you to identify your organization's strengths and weaknesses (S-W), as well as broader opportunities and threats (O-T). Developing a fuller awareness of the situation helps with both strategic planning and decision-making and is the basis for goal alignment.
Why use a SWOT Analysis?
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Before you implement change—include as part of a larger change management plan
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When you launch a new company initiative
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If you’d like to identify opportunities for growth and improvement
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Any time you want a full overview of your business performance
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If you need to identify business performance from different perspectives