SWOT Analysis

By: A Staff Writer

Updated on: Jul 19, 2024

What: Classic tool examining a business’s Strengths, Weaknesses, Opportunities, and Threats.

Who: Attributed to Albert Humphrey in the 1960s/70s.

Why: Gives entrepreneurs a quick, structured look at where they stand and potential directions to take.

When: Any planning stage – starting a business, launching a product, making major adjustments.

How:

1. 1. List items under each category (Strengths, Weaknesses, etc.) – be honest!
   2. Look for connections between factors (ex: Does a strength counter a threat?)
   3. Develop strategies based on your analysis.