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In strategic management, SWOT stands for ______
Strength, Weakness, Opportunity, Thread
Strength, Weakness, Opportunity, Threat
Strong, Weak, Open, Transparent
Strategic Weapons for Worldwide Tactics
SWOT analysis is a planning methodology that helps organizations build a strategic plan to meet goals, improve operations and keep the business relevant. During SWOT analysis, organizations identify strengths, weaknesses, opportunities and threats (the four factors SWOT stands for) pertaining to organizational growth, products and services, business objectives and market competition. A two-by-two matrix is used to build a SWOT analysis, with horizontal pairings of internal (strengths and weakness) and external (opportunities and threats) factors and vertical pairings of helpful (strengths and opportunities) and harmful (weaknesses and threats) factors in achieving an objective. Final results of the analysis will help the organization determine whether objectives, products, services, projects or goals are a strategic fit.
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