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In strategic planning and strategic management, SWOT analysis (also known as the SWOT matrix, TOWS, WOTS, WOTS-UP, and situational analysis) [1] is a decision-making technique that identifies the strengths, weaknesses, opportunities, and threats of an organization or project.
Strategic planning is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals.. Furthermore, it may also extend to control mechanisms for guiding the implementation of the strategy.
A SWOT analysis looks at both current and future situations. The goal is to build on strengths as much as possible while reducing weaknesses. This analysis helps a company come up with a plan that keeps it prepared for a number of potential scenarios, as part of corporate planning or strategic planning
The main goal of a context analysis, SWOT or otherwise, is to analyze the environment in order to develop a strategic plan of action for the business. Context analysis also refers to a method of sociological analysis associated with Scheflen (1963) which believes that 'a given act, be it a glance at [another] person, a shift in posture, or a ...
A SWOT analysis (alternatively SWOT matrix) is a structured planning method used to evaluate the strengths, weaknesses, opportunities and threats involved in a project or in a business venture. A SWOT analysis can be carried out for a product, place, industry or person.
BSC SWOT, or the Balanced Scorecard SWOT analysis, was introduced in 2001, by Lennart Norberg and Terry Brown. BSC SWOT is a simple concept that combines the two powerful tools BSC (Balanced Scorecard) and SWOT analysis when identifying factors that drives or hinders strategy. The four perspectives in BSC is combined with the four dimensions of ...
SWOT may refer to: SWOT, a Japanese media franchise; Cramming (education) or swotting; SWOT analysis, a method to evaluate strengths, weaknesses, opportunities and threats to identify risks and issues that need solving; Surface Water and Ocean Topography (SWOT), a NASA/CNES satellite altimeter
Mission and Vision Statements and Customer (Client) Surveys are the most used (by 77% of organizations) of 20 improvement tools, followed by SWOT analysis (strengths, weaknesses, opportunities, and threats) (72%), and Informal Benchmarking (68%). Performance Benchmarking was used by 49% and Best Practice Benchmarking by 39%.