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 refered to as TOWS Analysis (Threats, Opportunities, Weaknesses and Strengths).
The elements of this technique are introduced described below.
In this technique the Strengths looks at the internal environment and represents any positive attributes. What things are we doing right now that gives us strengths or are a strength of the item under investigation.
As with strenghts, Weaknesses look internally at the current situation and represent any negative items which might cause a disadvantage to the organisation or the item being analysed.
Opportunities look externally to the organisation and represent any factors that may be used to create a competitive advnatage for the organisation or the area of the business under investigation.
As with opportunities, threats look externally to the organisation and represent any factors which may have a negative impact on the organisation or area under investigation.
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