What are the 4 steps of SWOT analysis?
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.
SWOT analysis is a method for analyzing a company's strengths, weaknesses, opportunities and threats. It can be used to help you make strategic decisions about your business, or it can be applied to a single project or idea.
The first step of a SWOT analysis is to identify your strengths and weaknesses. Strengths are characteristics that make you successful or powerful in some way. Weaknesses are characteristics that make you vulnerable or less effective.
The second step is to identify opportunities and threats. Opportunities are things that will help you grow your business or increase its success. Threats are things that could cause your business to fail or be less successful than it could be.
The third step is to prioritize these 4 factors based on how important they are to the success of your company. The most important items should be at the top of the list; the least important items should be at the bottom of the list.
Finally, identify ways in which you can leverage each item so that it becomes more powerful or valuable than it was before by using them to achieve success in some way.
To sum it up, the four steps of SWOT analysis are:
Identify the internal strengths and weaknesses of your organization
Identify the external opportunities and threats facing your organization
Assess the relationship between these two sets of information (internal strengths and weaknesses with external opportunities and threats)
Use this information to determine what action should be taken by your organization in order to achieve its goals