Overview of the SWOT Analysis

SWOT analysis is an efficient tool to determine the strengths, weaknesses, opportunities, and threats that are facing your business, project, or product. It is a very practical and useful method to help you analyze the current situation and help you in planning for the future.

In a SWOT analysis, the strengths and weaknesses represent characteristics that are within your control referred to as internal factors, whereas the opportunities and threats focus on external factors that could have an impact on your business, project or product and which are out of your control.

The SWOT analysis process can be used by anyone in the personal or professional context and is very useful as a brainstorming tool for teams to come together to discuss different perspectives about a situation at hand. It helps in finding new solutions to problems and deciding on the best course of action.