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What is SWOT analysis?

Source: "What is SWOT analysis?", British Library Business & IP Centre, [1] (Accessed: May 8, 2023) Summary: This article explains the SWOT analysis framework, developed by Albert Humphrey at the Stanford Research Institute in the 1960s and 1970s. It provides examples of internal and external factors businesses should consider and outlines the four SWOT analysis strategies.

Key Points:

• SWOT analysis assesses strengths, weaknesses, opportunities, and threats in a business.
  • Internal factors: financial, physical, human, and natural resources, and existing infrastructure.
  • External factors: external funding, industry trends, economic movements, target demographics, working relationships, and regulations.
  • Four strategies: Strength-Opportunity, Strength-Threats, Weakness-Opportunity, and Weakness-Threats.

Usefulness:

Useful for a general understanding of SWOT analysis, its components, and the strategies derived from it.