SWOT ANALYSIS

Risk Management and Decision Making Glossary

Risk Management and Decision Making — SWOT Analysis

 

 

 

 

 

 

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Information on SWOT Analysis

SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats Analysis) is a tool commonly used to plan future activiities to maximise their positive impact on an individual or organisation. The aim of a SWOT analysis is to guide the design a effective strategies for future development.
     A SWOT analysis is carried out under four categories:

  • Strengths. In what ways are you strong? What advantages do you have over competitors?
  • Weaknesses. What are you not good at? What limitations are there on the the activities you can undertake? What advantages do competitors have?
  • Opportunities. Given where you are now, what avenues are there for development and growth? What external trends might be of benefit?
  • Threats. What internal characteristics threaten future development? What external trends might create risk?

    •      The use of a SWOT analysis allows you to take maximum advantage of opportunities, while being aware of potential threats and understanding the strengths and weaknesses of your current position.
         Strengths and Weaknesses refer to where you are currently; Opportunities and Threats refer to the future.
         Each of the four areas of a SWOT analysis can be applied to a wide variety of aspects of an organisation, including financial, personnel, technology, and products.


    Other topics in our resources on Risk Management and Decision Making related to SWOT Analysis include: 
     
  • SWOT (Strengths, Weaknesses, Opportunities and Threats)
  • strengths
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  • weaknesses
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  • opportunities
  • threats

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