What is SWOT analysis?
Developed as a tool for marketing in which internal and
external environment are scanned as an important part
of the strategic planning process.
Internal factors can be classified as strengths (S) or
weaknesses (W).
External factors can be classified as opportunities (O)
or threats (T).
Strengths and Weaknesses of the internal environment e.g.
staff (or internal customers), office technology, wages and
finance, etc.
Opportunities or Threats from the external micro-environment
e.g. clients, agents and distributors, suppliers, our competitors,
etc. and macro-environment e.g. trends in Political, Economic,
Social, Technological, Legal and Environmental factors
(PESTLE).