What does SWOT analysis stand for?

SWOT analysis is a strategic planning tool used to identify and evaluate the Strengths, Weaknesses, Opportunities, and Threats associated with a business or project. The correct response highlights that the acronym "SWOT" directly corresponds to these four key components.

Strengths refer to internal attributes that are advantageous to achieving the organization's objectives, while Weaknesses are internal factors that may hinder success. Opportunities denote external factors that the organization can exploit to its advantage, whereas Threats refer to external challenges that could jeopardize its success.

This comprehensive approach enables businesses to develop strategies that leverage their strengths and opportunities while addressing their weaknesses and mitigating threats. It is a widely recognized framework in business analysis and strategic planning, making it essential knowledge for anyone involved in these fields.