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Please discuss the following question in 250 words count in your own words please use internet...

Please discuss the following question in 250 words count in your own words please use internet and add reference at end of question but make sure that it is in your own words. Discuss the following: What are your thoughts about the validity of a strengths, weaknesses, opportunities, and threats (SWOT) analysis in strategic planning?

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A SWOT Analysis is an evaluation tool for business leaders to assess the strengths, weaknesses, opportunities, and threats to the organization.

SWOT analysis is a popular analytical tool used to asses the internal strengths and weaknesses and the external opportunities and threats of an organisation or a decision.

*Strengths are the internal factors that are positive compared to competitors. e.g corporate image, highly skilled workers

*Weaknesses are the internal factors that are negative compared to competitors. these factors are likely to prevent or delay the business from achieving its organizational objectives.

*Opportunities are the external possibilities and prospects for future development.

*Threats are the external factors that hinder the prospects of an organisation

STRENGTHS and WEAKNESSES are the internal factors that an organisation currently faces.
OPPORTUNITIES AND THREATS are the external factors that an organisation is likely to face in the near future.

Swot analysis can be used to provide a good framework for :

1. Evaluating business proposals or ideas
2. Assessing opportunities for the development and survival of the organization.
3.Strategic Planning
4.Competitor analysis
5.Reviewing strategy
6.Risk assessment

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