A SWOT (Strengths, Weaknesses, Opportunities, and Threats) is a tool used to provide a general or detailed snapshot of a company’s health. Think of your SWOT as a tune-up that every business needs periodically to diagnose and fix what’s a bit worn, what’s on the verge of breaking down, or what’s already broken and needs replacement–so that you can keep the business humming—even better than it has in the past.
– SWOT offers professional managers an effective evaluative technique to aid the decision making process.
– It can not find the solution for you, but it will ensure that issues are: identified, classified and prioritized clearly, showing the problem in terms of key underlying issues. Decision makers can then see the answer.
– It’s a four-part approach to analyzing a company’s overall strategy
or the strategy of its business units. All four aspects must be considered to implement a long-range plan of action.
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