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SWOT Analysis is a commonly used Business Analysis technique for assessing the Strengths, Weaknesses, Opportunities and Threats of an organisation or business venture. Sometimes this Business Analysis technique is referred to as TOWS Analysis (Threats, Opportunities, Weaknesses and Strengths).
The elements of this technique are described below.
In this technique, Strengths looks at the internal environment and represents any positive attributes. What things are we doing right now that gives us strength or are a strength of the item under investigation?
As with strengths, Weaknesses looks internally at the current situation and represents any negative items which might cause a disadvantage to the organisation or the item being analysed.
Opportunities looks externally to the organisation and represents any factors that may be used to create a competitive advantage for the organisation or the area of the business under investigation.
As with opportunities, Threats looks externally to the organisation and represents any factors which may have a negative impact on the organisation or area under investigation.
Get started with SWOT Analysis today with our free SWOT Analysis templates.
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