How many main components are there in a SWOT analysis?

A SWOT analysis consists of four main components: Strengths, Weaknesses, Opportunities, and Threats. This framework is designed to facilitate strategic planning and decision-making by providing a structured way to evaluate both internal and external factors that could impact an organization.

Strengths refer to the internal attributes that give the organization an advantage over others, while weaknesses are the internal limitations that may hinder performance. Opportunities focus on external factors that the organization could leverage for growth and improvement, and threats encompass external challenges that could potentially cause harm or disadvantage to the organization.

Understanding each of these components allows businesses to develop strategies that build on strengths, mitigate weaknesses, capitalize on opportunities, and defend against threats, which is essential for navigating the competitive landscape effectively.