* Strengths
* Weaknesses
* Opportunities
* Threats
It's a strategic planning tool used to analyze an organization's internal and external environment, helping to identify areas of competitive advantage and potential risks.
Here's a breakdown:
* Strengths: Internal factors that give the organization a competitive advantage. (e.g., strong brand reputation, talented workforce, proprietary technology).
* Weaknesses: Internal factors that hinder the organization's performance. (e.g., outdated technology, lack of skilled labor, high debt).
* Opportunities: External factors that the organization can leverage to improve its position. (e.g., emerging markets, new technologies, changing customer preferences).
* Threats: External factors that could harm the organization's performance. (e.g., economic recession, new competitors, regulatory changes).
By understanding its strengths, weaknesses, opportunities, and threats, an organization can develop strategic plans to capitalize on its advantages and mitigate potential risks.