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SWOT Analysis.

Authors

Teoli D1, An J2.

Source

StatPearls [Internet]. Treasure Island (FL): StatPearls Publishing; 2019-.
2019 Jan 4.

Author information

1
University of California, Riverside
2
Riverside Community Hospital/UCRiverside

Excerpt

SWOT Analysis (short for strengths, weaknesses, opportunities, threats) is a business strategy tool to assess how an organization compares to its competition. The strategy is historically credited to Albert Humphrey in the 1960s, but this attribution remains debatable.  There is no universally-accepted creator. Also known as the SWOT Matrix, it has achieved recognition as useful in differentiating and establishing a niche within the broader market. Beyond the business world, SWOT Analysis can also be applied to the individual-level to assess a person's situation versus their competition further. There are both internal and external considerations build into the tool. "Strengths" and "weaknesses" are internally-related. The former representing a facet of an organization/entity which lends it an advantage over the competition. The latter being characteristics of that same entity which lead to a relative disadvantage against the competition. Regarding externally-related, "opportunities" are realities in the greater environment which can be exploited to benefit the entity. While on the other hand, "threats" are realities in the greater environment which might lead to problems for the entity.

Copyright © 2019, StatPearls Publishing LLC.

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