SWOT analysis
A SWOT analysis identifies the internal strengths and weaknesses and the external opportunities and threats in relation to an organisation. SWOT is short for Strengths, Weaknesses, Opportunities and Threats.
This analysis is often used to help frame management thinking. It can help managers to identify ways to minimise the effect of weaknesses in their business while maximising their strengths. Ideally, managers will seek to match their strengths against market opportunities that result from competitors’ weaknesses or voids.