What is SWOT Analysis?
What is SWOT Analysis?
A SWOT Analysis is a strategic planning tool used to identify the strengths, weaknesses, opportunities, and threats related to a product, project, or business. By analyzing these four elements, teams can make informed decisions about their strategies and priorities.
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Strengths: Internal attributes that give an advantage.
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Weaknesses: Internal attributes that could be improved.
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Opportunities: External factors that the product or project could exploit.
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Threats: External factors that could cause trouble or hinder progress.
Conducting a SWOT analysis helps teams to leverage their strengths, address their weaknesses, capitalize on opportunities, and mitigate potential risks.