God, grant me the serenity to accept the things I cannot change, The courage to change the things I can, And the wisdom to know the difference. (Serenity Prayer, Reinhold Niebuhr)

SWOT Analysis

SWOT analysis (or SWOT matrix) is a strategic planning technique used to help a person or organization identify the StrengthsWeaknessesOpportunities, and Threats related to business competition or project planning.[1] It is intended to specify the objectives of the business venture or project and identify the internal and external factors that are favorable and unfavorable to achieving those objectives. Users of a SWOT analysis often ask and answer questions to generate meaningful information for each category to make the tool useful and identify their competitive advantage (Wikipedia).

Strengths and Weakness are frequently internally-related, while Opportunities and Threats commonly focus on environmental placement.

Strengths: characteristics of the business or project that give it an advantage over others. Potential strengths could include:

Weaknesses: characteristics of the business that place the business or project at a disadvantage relative to others. Potential weaknesses could include:

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

Threats: elements in the environment that could cause trouble for the business or project. Potential threats could include:

The degree to which the internal environment of the firm matches with the external environment is expressed by the concept of strategic fit. Identification of SWOTs is important because they can inform later steps in planning to achieve the objective. First, decision-makers should consider whether the objective is attainable, given the SWOTs. If the objective is not attainable, they must select a different objective and repeat the process.