What does SWOT stand for?

The correct answer is Strengths, Weaknesses, Opportunities and Threats.

Key Points

• SWOT analysis is a strategic planning technique used to help an organization identify its internal strengths and weaknesses, as well as its external opportunities and threats.
• Strengths and Weaknesses are considered internal factors, which organizations can control to some extent.
• Opportunities and Threats are external factors that are influenced by the environment in which the organization operates.
• The SWOT framework is credited to Albert Humphrey, who led a research project at Stanford University in the 1960s and 1970s.
• SWOT analysis can be used for strategic planning, business development, and competitive analysis.

Additional Information

• Strengths: These are the attributes or resources of the organization that are helpful in achieving its objectives, such as strong brand reputation, skilled workforce, and advanced technology.
• Weaknesses: These are the attributes or resources of the organization that are harmful to achieving its objectives, such as lack of capital, poor location, and weak brand recognition.
• Opportunities: These are external factors that the organization can exploit to its advantage, such as market growth, changes in regulation, and technological advancements.
• Threats: These are external factors that could cause trouble for the organization, such as increased competition, economic downturns, and changes in consumer preferences.
• SWOT analysis is often depicted in a two-by-two grid, with each quadrant representing one of the four elements.