SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in an issue, idea, product, project, or opportunity. SWOT involves defining the problem/opportunity and identifying the internal and external factors both positive and negative to help achieve an objective.
Strengths: Internal characteristics that give it an advantage. What do we do well?
Weaknesses: Internal characteristics that are a disadvantage. What can we improve?
Opportunities: External factors that allow for improvement. How can we use these opportunities?
Threats: External factors that can do harm. How can this hurt us and how can we avoid them?