What is SWOT analysis and examples?

SWOT analysis is a tool used in strategic planning to uncover strengths, weaknesses, opportunities, and threats that are relevant to a business or project. Strengths and weaknesses are considered internal factors, while opportunities and threats are external. For instance, a firm might see its strength in producing high-quality goods, a weakness in its minimal online presence, an opportunity to move into new markets, and a threat posed by rising competitors.

This analysis supports businesses in assessing their stance and making well-informed choices. By reviewing these aspects, firms can develop strategies to maximise strengths and opportunities while addressing weaknesses and threats effectively.