What are the main components of a SWOT analysis?

The correct answer captures the fundamental aspects of SWOT analysis, which is a strategic planning tool used to identify and evaluate the internal and external factors that can impact an organization.

Strengths highlight the internal attributes and resources that give the organization a competitive advantage. This could include elements such as skilled personnel, strong brand reputation, or proprietary technology.

Weaknesses represent internal limitations or faults that could hinder the organization's performance, including factors like limited resources, skill gaps, or poor location.

Opportunities focus on external factors that the organization can exploit to its advantage, such as emerging markets, industry trends, or changes in consumer behavior that could facilitate growth.

Threats encompass external challenges that could pose risks to the organization's success, such as increased competition, regulatory changes, or economic downturns.

Together, these four components provide a comprehensive overview of an organization's current position and inform strategic decision-making. Understanding these elements allows businesses to leverage their strengths, mitigate weaknesses, capitalize on opportunities, and prepare for potential threats in their strategic planning process.