Looking into SWOT

 SWOT is an abbreviation used to help build a stronger and more strategic look into a company, that may help them improve on goals, marketing, planning, and revisions for upcoming quarters. SWOT stands for; Strengths, Weaknesses, Opportunities, and Threats.

Looking further into the topic to better understand it, here are 3 sources that cover SWOT and help better understand what it is and how it may help a company-

Fit4Market

This article covers how SWOT applies to marketing, it goes over a few explanations of the term and what the term is also known by (Current situation analysis). Something that the introduction does well is explain the differences in how SWOT can be used "A SWOT analysis for a marketing plan is distinctly different to a SWOT analysis for a business plan in that each element you consider must be considered from the customer's point of view. For example, an element might include a "lack of funding". For the business plan this will have certain implications but how will the customer see this element? It may be that it is a lack of visibility due to the inability to adequately promote to your target market.". Going further into the article it breaks down each abbreviation into a description to better understand the letter on its own, and a few steps one can take to note the information within their company.

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Community Tool Box

Communitytoolbox provides a segment out of a textbook that covers SWOT, it has a few examples, and visuals to help take in the information. It covers why it was created why you should use the method, and the internal elements of the topic. In this article it provides real world examples for using this tool, which helps understand it. Towards the middle of the article there is some visuals provided to let the reader put down their own thoughts, here there is a segment explaining how the SWOT method is a simple and organized way of breaking down a companies internal and external pros and cons. This article could be more helpful printed out, to interact with some of the textboxes made for response.

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SWOT Analysis Best Practices

In this article, it covers the several descriptions of SWOT, much like the other two sources, however, it also goes into how you further utilize the method into an action for your company. Afterward this article also explains how there are some downsides included in using this method and to be mindful when using it- "Threats in a SWOT analysis represent negative, external factors that the organization can’t control. These factors could potentially disrupt current strategies or even the company’s future. Anticipating threats requires a realistic, objective, and specific assessment of external challenges to be mindful of their potential impact on the organization and to take action against them before they negatively affect the business." The article has a clever way of using SWOT to evaluate SWOT, which I thought was a very cool detail.

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Those were the three articles I found and read to help further my understanding of the topic, I tried to stay with .Org or .Edu to try and filter out any unreliable information. Out of the three articles I highly recommend the last one, it holds lots of information, and breaks it down in a very helpful way.