Key Takeaways About SWOT Analysis

This guide explains what SWOT analysis is, how it is used, and why it is useful for assessing an individual business' competitive position. Here are some key takeaways about SWOT analysis:

• SWOT analysis is an acronym standing for strengths, weaknesses, opportunities, and threats.

• This framework is used to assess an individual business, but often draws on frameworks like PESTEL analysis and Porter's Five Forces, which bring in perspectives from the industry as well as the external business environment that the company operates in.

• SWOT analysis looks at a business from both internal and external perspectives. From an internal perspective, it assesses the company's strengths and weaknesses. From an external perspective it looks at potential opportunities and threats.