SWOT Analysis is mostly used in business planning as
method of collecting and analyzing factors that may be considered for
inclusion in the business plans.
Strengths are internal to the organization
and include its competencies and capabilities. i.e.. it is 'what we're
Weaknesses are also internal and are the
opposite of Strengths. i.e. what we are not good at. Weaknesses are
only important and worth considering if they are preventing or
hindering the organization from meeting its goals.
Opportunities are external to the organization
and represent things that could be taken up. Opportunities are
sometimes mixed up with strategies (which are approaches you are
taking, often to address SWOT factors).
Threats are also external and are those things
that are likely to hinder or prevent the organization from meeting its
goals. Being external, they are less easy to address than weaknesses.