SWOT Analysis for AssessingEntrepreneurship Readiness
SWOT analysis (strengths, weaknesses,
opportunities, and threats analysis) is a
framework for identifying and analyzing
the internal and external factors that
can have an impact on the viability of a
project, product, place or
person. SWOT analysis guides to
identify the positives and negatives
inside an institution / organization /
group (S-W) and outside of it, in the
external environment (O-T). Developing
a full awareness of a situation can help with both strategic planning and decisionmaking.
The technique is credited to Albert Humphrey of the Stanford University,
USA and was originally developed in the 1960s for business and industry, but it is
equally useful in other arenas, and even personal growth. SWOT is not the only
assessment technique you can use, but is one with a long track record of
effectiveness. The strengths of this method are its simplicity and application to a
variety of levels of operation. The technique that enables a group / individual to
move from everyday problems / traditional strategies to a fresh perspective.