What does SWOT analysis stand for?

SWOT analysis is a strategic planning tool widely utilized in business to evaluate an organization's internal and external environments. The acronym stands for Strengths, Weaknesses, Opportunities, and Threats.

Strengths refer to the internal capabilities and resources that give an organization a competitive advantage. Weaknesses signify internal areas where the organization may be at a disadvantage compared to competitors. Opportunities are external factors that the organization can exploit to its advantage for growth and success. Threats encompass external challenges or obstacles that could hinder the organization's performance.

SWOT analysis provides a comprehensive overview that helps organizations identify their position in the market and formulate strategies for improvement or further development. By understanding these four elements, managers can make informed decisions and strategically position their organizations to capitalize on strengths and opportunities while addressing weaknesses and mitigating threats.

The other options do not accurately represent the components of SWOT analysis, as they either modify the established definitions in irrelevant ways or create terms that do not exist in strategic management terminology.