What are the four components of a SWOT analysis?

The four components of a SWOT analysis are indeed Strengths, Weaknesses, Opportunities, and Threats. This framework is used for strategic planning and analysis to assess an organization’s internal and external environment.

Strengths refer to the internal characteristics of the organization that give it an advantage over competitors, such as unique resources, skilled personnel, or innovative technologies. Weaknesses are internal factors that may hinder the organization’s performance, like lack of expertise or limited resources. Opportunities represent external factors that the organization could exploit to its advantage, such as market trends or partners. Finally, Threats are external challenges that could jeopardize the organization’s success, such as economic downturns or increased competition.

Understanding and analyzing each of these components together helps organizations develop strategies to leverage their strengths, improve on weaknesses, take advantage of opportunities, and mitigate threats effectively.