A SWOT analysis is a strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieving that objective. The primary purpose of a SWOT analysis is to help organizations develop a full awareness of all the factors involved in making a business decision. This includes looking at the positive and negative aspects of the current and future environment in which the organization operates. The ASQ Certified Manager of Quality/Organizational Excellence should use SWOT analysis to plan strategic initiatives that align with the company’s overall objectives and to address potential challenges in the business environment1.
[References:, ASQ Certified Manager of Quality/Organizational Excellence Handbook1., ]
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