SWOT Analysis

                                   SWOT Analysis SWOT is the acronym for Strengths, Weaknesses, Opportunities and Threats. It is a strategy analysis tool. It combines the study of the strengths and weaknesses of an organization, a geographical area, a sector, an industry, a product or a project with the study of the opportunities and threats to their environment. SWOT analysis is a useful tool that can help in handling both ordinary and unusual situations by exploring both internal and external factors that may be influencing. It is a structured planning method for strategy formulation. It involves specifying the objective and identifying the internal and external factors that are favourable and unfavourable for achievement of the objectives. SWOT analysis usually starts with defining of a desired end state or objective. Strengths are the attributes that are helpful in achievement of the objective. Weaknesses are the attributes that are harmful in achieving the objective. Opportunities are the external conditions that are helpful in achievement of the objective. Threats are the external conditions which could do damage to the objective. Thus strengths and weaknesses are the internal factors over which there are some measures of control while opportunities and threats are external factors over which there are essentially no controls (Fig 1). Fig 1 SWOT analysis SWOT analysis technique is credited to Albert Humphrey, who led a research team at the Stanford Research Institute. SWOT analysis came from this research which was conducted from 1960-1970. The research was funded by the Fortune 500 companies to find out what had gone wrong with corporate planning and to create a new system for managing change. To understand SWOT it is necessary to understand the four factors of...