SWOT is an acronym for:
- Strengths (S)
- Weaknesses (W)
- Opportunities (O)
- Threats (T)
SWOT analyses are most often used to identify customers, competitors, and the organisation’s relationship to its external environment. They are also very helpful on focusing on your intrinsic qualitative strengths and weaknesses, or those of your organisation
|Internal factors||External factors|
However, like stakeholder analysis, the SWOT model is capable of being applied more widely to other situations that managers encounter. For example, it is frequently used by individuals to evaluate their developmental needs in terms of their strengths, weaknesses, opportunities and threats (or barriers) for development.
If you would like to read more about this, these(2008) are very helpful.
Task: Your SWOT analysis
Get ahead of the game. Create a SWOT analysis for yourself, using the factors in your own situation and the template provided below.
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