Do you know what is SWOT stands for?

S.W.O.T

is an acronym that stands for 

Strengths

Weaknesses

Opportunities

Threats

it is a business/strategic planning technique used by businesses & individuals to help analyze whether a goal can be obtained.

to identify opportunities for improvement & potential areas of risk by listing a project's strengths, weaknesses, opportunities, and threats. 

A benefit of identifying potential threats is that it facilitates 

the development of contingency plans 

for dealing with them

for example, 

in a political sense, 

it can be used to determine whether or not 

a party/candidate can win an election

and if so how they can do so.

SWOT

combines 

both

internal & external 

factor.

Strengths & Weaknesses are INTERNAL

(reputation, patents, location)

You can change them over time but not without some work. 

Opportunities & Threats are EXTERNAL 

(suppliers, competitors, prices)

they are out there in the market, happening whether you like it or not. 

You can’t change them.