SWOT Analysis
SWOT Analysis is a strategic planning tool used to identify and evaluate the Strengths, Weaknesses, Opportunities, and Threats related to a business or project. This analysis helps organizations understand their internal capabilities and external market conditions.
Strengths: Internal attributes that are beneficial to achieving objectives.
- Strong brand reputation
- Innovative product lines
Weaknesses: Internal factors that may hinder performance.
- Lack of resources
- Poor location
Opportunities: External factors that the organization can Capitalize on.
- Emerging markets
- Technological advancements
Threats: External challenges that could jeopardize success.
- Increasing competition
- Regulatory changes
Example: A local bakery conducts a SWOT analysis:
- Strengths: Unique recipes, loyal customer base.
- Weaknesses: Limited online presence.
- Opportunities: Growing demand for organic products.
- Threats: New bakeries opening in the area.
Case Study: A tech startup performs a SWOT analysis:
- Strengths: Skilled team, innovative technology.
- Weaknesses: Limited funding.
- Opportunities: Increase in demand for remote work solutions.
- Threats: Established competitors.