SWOT: self awareness

The SWOT analysis (Strengths-Weaknesses-Opportunities-Threats) was developed by Albert Humphrey in the 60’s. Despite being a classic, this simple tool is still the first step in many processes of strategic planning. Carrying out a SWOT analysis for a company or a project requires a deep and thorough analysis. As a tool in the company's strategic planning, the involvement of the whole management team during the construction of the SWOT, and the early communication of the results to the rest of the organization will facilitate the further alignment with the common company goals.

The SWOT analysis considers both internal and external factors that help defining the competitive edge of the company:

Internal Factors
Strengths: intrinsic characteristics of the company and the team that give a distinct competitive edge against competition and the environment.
Weaknesses: internal characteristics that place the company and the team at a disadvantage relative to others.

External Factors
Opportunities: external options that represent a chance for growth and success.
Threats: external elements that can harm the company or the project.