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SWOT Analysis

Vocabulary terms from our SWOT Analysis Unit

TermDefinition
SWOT Analysis an organized way to look at each of these factors in your business.
SWOT Matrix a two-by-two table, with what the Top-5 key issues are in each category.
Environmental scanning information collected about the environment surrounding your business. It is also an important part of SWOT analysis and the strategic-planning process
Strategic planning creating a specific business strategy, implementing it, and evaluating the result
Strength any resource or capability your business has that can help you gain a competitive advantage in your industry.
Weakness any limitation or shortcoming your business has that can keep you from achieving your objectives.
Opportunity any favorable situation in the environment surrounding your business.
Threat any unfavorable situation in the environment surrounding your business.
S-O strategy focus on opportunities that are a good match with the business’s strengths.
S-T strategy focus on using a business’s strengths to overcome its threats.
W-O strategy focus on overcoming a business’s weaknesses so the business can pursue opportunities.
W-T strategy focus on ensuring that a business’s weaknesses don’t make it even more vulnerable to the threats it already faces.
Created by: scotts.moore
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