The SWOT analysis is a tool used to help an organizations strategic planning process and It is also a useful tool in developing and confirming your goals and marketing strategy.

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SWOT analysis

In 1960, a research was conducted at Stanford Research Institute. The research was funded by the Fortune 500 companies to find out what could be the reason that corporate planning was failing. Under lead of Albert Humphrey, who also developed the TAM(r) (Team, Action, Management) business performance model, the research team invented the SWOT analysis model. The SWOT analysis is a tool used to help an organization's strategic planning process and It is also a useful tool in developing and confirming your goals and marketing strategy. The SWOT analysis evaluates the organization's internal strengths (S) and weaknesses (W), and its external opportunities (O) and threats (T).

First of all, you take a look at the organization's internal strengths. Strengths describe the positive attributes, tangible and intangible, internal to your organization. They are within your control. Besides the internal perspective, you also have to consider the point of view of your customers and all the other people in the same market like suppliers and competitors. In other words, what is your unique selling point (USP)? For example, if all of your competitors provide high quality products, then a high quality production process is not