The SWOT Analysis is an extremely useful management tool.
The acronym stands for Strengths, Weaknesses, Opportunities, and Threats.
The tool is explained as one of 55 useful management tools in my book “55 Really Useful Management Tools” available from Amazon.
You can use the SWOT Analysis during planning exercises in order to understand where your business or one part of your business is at the current time. You can use the SWOT Analysis to review a process or procedure to see whether it can be improved. You can even use the tool to review the performance of a team member or team itself. It has multiple uses as an analytical tool.
But what is it? And how do you use it? Read More