Meaning of SWOT - What it is, Definition and Concept

The SWOT is a type of analysis used for personal or organizational planning , in which both the competencies and the own weaknesses and those external factors that could have an influence are sought, being used in different fields with the idea of ​​creating future strategies.


The term SWOT corresponds to the acronym in Spanish of the factors included in this analysis , which is why it is written in capital letters since it is actually an acronym and not a word in concrete.


The acronym SWOT means: Strengths, opportunities, weaknesses and threats , the first two positive and the other negative but that within a deep analysis can become good things if you face them correctly, what makes SWOT so useful.


SWOT analysis is used for strategic planning

SWOT analysis was born in the United States during the 1970s by Albert S.Humphrey , an expert at Stanford University who created it as a tool to help in strategic business planning, but then gain strength in a lot of different fields.


When doing a SWOT or SWOT as it is also known in Spanish you start by an internal reflection of the strengths and weaknesses and then go on to do the same with the external, that is to say the threats and Opportunities: Once you have them, it is time to ask questions, whether personal or group to get the most out of the reflection.


With the results of the SWOT a matrix is ​​created that combines the internal and external in a very concise way and through which it is possible to generate future plans either of achievements or processes to follow to obtain Advances or certain results, knowing well that you have for and against.


Over the years the SWOT analysis has been evolving to adapt to the needs of the moment , but it is still a current and very important tool in any individual and group strategic planning process.


SWOT analyzes are used worldwide, in English they are known as SWOT (Strengths, Weaknesses, Opportunities and Threats) and their structure and process are the same, being a tool considered useful to worldwide with versions in almost all languages ​​and that does not lose its validity.


Examples of use of SWOT


  • To prepare our business plan we start with a SWOT analysis

  • The business strategy teacher dedicated her class to teaching how to do a SWOT

  • The SWOT analysis helped me with my decision to study again

SWOT synonyms


SWOT

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