SWOT Analysis

Definition of SWOT Analysis

A strategic planning tool that identifies a company’s strengths, weaknesses, opportunities, and threats.

Explanation of SWOT Analysis

SWOT Analysis is a strategic planning tool used to identify and evaluate a company’s internal strengths and weaknesses, as well as external opportunities and threats. The acronym SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. Strengths and weaknesses are internal factors, such as resources, capabilities, and processes, while opportunities and threats are external factors, such as market trends, competition, and economic conditions. By conducting a SWOT analysis, businesses can gain a comprehensive understanding of their current position and develop strategies to leverage strengths, address weaknesses, capitalize on opportunities, and mitigate threats. This analysis helps in strategic decision-making, goal setting, and resource allocation. SWOT analysis can be applied at various levels, including overall business strategy, specific projects, or individual departments. It provides a structured framework for identifying key factors that impact success and developing actionable plans to achieve competitive advantage and long-term growth.

This dictionary entry was written by

Per-Gulbrand Peter Braathen

With a foundation in doctoral-level research, Per-Gulbrand Peter Braathen is a seasoned expert in the areas of marketing, branding and communication. His proficiency extends to marketing management, branding and communication strategy. Braathen's experience is underscored by his rich background from various industries, including entertainment. A distinguished alumnus of the USC Marshall School of Business, Braathen boasts a Master of Science in Marketing, complemented by a Graduate Certificate in the Business of Entertainment from the USC School of Cinematic Arts as well as two undergraduate Bachelor degrees from the esteemed University of Southern California.