A SWOT analysis is a tool used to evaluate the strengths, weaknesses, opportunities, and threats involved in a project or business venture. It involves specifying objectives and identifying internal and external factors that are favorable and unfavorable to achieving those objectives. The analysis can be used to guide strategic planning by focusing on an organization's strengths and opportunities while also being aware of weaknesses and threats. A SWOT analysis provides a foundation for evaluating a company's resources and capabilities as well as its external environment to guide decision making.