How well do you know SWOT analysis?

SWOT analysis is a strategic planning technique used to identify strengths, weaknesses, opportunities, and threats related to business competition or project planning. It is used for evaluation of the strategic position of organizations of many kinds, including for-profit enterprises, local and national governments, and NGOs. SWOT analysis is designed to identify internal and external factors that are favorable and unfavorable to achieving the objectives of the venture or project. Strengths and weaknesses are usually considered internal, while opportunities and threats are usually considered external. SWOT analysis can be used to build organizational or personal strategy. Matching is used to find competitive advantage by matching the strengths to opportunities. The SWOT analysis has been used in community work as a tool to identify positive and negative factors within organizations, communities, and the broader society. SWOT analysis cannot show managers how to achieve a competitive advantage, particularly in a rapidly changing environment. Michael Porter developed the five forces framework as a reaction to SWOT. SOAR (strengths, opportunities, aspirations, and results) is an alternative technique inspired by appreciative inquiry. In project management, the alternative to SWOT known by the acronym SVOR (Strengths, Vulnerabilities, Opportunities, and Risks) compares the project elements along two axes. SWOT analysis was first described in a technical report titled Formal Planning: The Staff Planner's Role at Start-Up in 1965.