SWOT Analysis is a strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project, business venture, or any situation requiring a decision. The SWOT Analysis Tool helps organizations identify their internal advantages and disadvantages as well as external favorable conditions and potential challenges. Components Internal Factors: Strengths: These are attributes within the organization that add value or offer a competitive edge. Examples can include skilled human resources, proprietary technology, or strong brand equity. Weaknesses: These are internal constraints or limitations that hinder performance and competitiveness. Examples may be outdated technology, lack of skilled personnel, or poor management systems. External Factors: Opportunities: These are external conditions that an organization can capitalize on or use to its advantage. For instance, market growth, a shift in consumer behavior, or technological advancements represent opportunities. Threats: These are external conditions that could jeopardize the organization’s success. This can include regulatory changes, economic downturns, or increasing competition.