What is a SWOT analysis mainly used for?

A SWOT analysis is primarily used to assess an organization or project's internal strengths and weaknesses, as well as external opportunities and threats. This framework allows businesses to identify key factors that could impact their strategic planning and decision-making processes. By evaluating strengths, companies can leverage their advantages in the marketplace; examining weaknesses helps in identifying areas for improvement; exploring opportunities can lead to potential growth and expansion; and analyzing threats prepares organizations for challenges they may face.

The strength of SWOT analysis lies in its ability to provide a holistic view of both internal and external environments. This makes it a valuable tool for strategic planning, helping organizations set goals and allocate resources effectively. It is widely used across various sectors to facilitate informed decision-making and long-term success.