SWOT Analysis
A SWOT Analysis is a strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or business venture. Strengths and weaknesses are internal to the company. Opportunities and threats originate from outside the company. A SWOT analysis is usually performed early in the project development process, and helps organizations evaluate the environmental factors and internal situation facing a project.SWOT analyses are best performed by a cross-functional team or task force that represents a broad range of business perspectives. For example, a SWOT team may be composed of an accountant, a salesperson, an executive manager, an engineer, and an ombudsman.
Examples of Possible Strengths and Weaknesses
Examples of Possible Opportunities and Threats
Many of these factors could be listed in several categories. For example, if your competitors are initiating an alliance, this would be a threat. If you can get yourself invited into the alliance, this could be an opportunity. If an existing alliance is causing problems in your supply chain, this would be a weakness. If your alliances are giving you a competitive advantage, this would be a strength. One role of SWOT analysis is to try to turn weaknesses and threats into opportunities, and ultimately into strengths.
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