SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. SWOT Analysis is a technique for assessing these four aspects of your organization, team, or project.
When creating a new strategy, the SWOT Analysis can help by encouraging a team to brainstorm and assess the organization’s internal strengths, opportunities in the marketplace, internal weaknesses and external threats.
Ideally you will then use this information to help craft a strategy that will position your organization uniquely in the marketplace and thus build a competitive advantage. This blog post discusses some ideas about how to create a unique strategy.
You can also use the SWOT analysis to evaluate a personal decision, such as should I hire someone to remodel my home, or hire a contractor. Doing a SWOT for each option can reveal things you may not have considered such as opportunity costs, hidden risks, etc.
Cardsmith Pro-tip: Use the Zoom Slider Bar to make the SWOT background image larger or smaller in order to fit your screen.