SWOT (Strengths, Weaknesses, Opportunities and Threats) Analysis is an important tool for auditing the overall strategic position of a business, which is very important to analyze the company position and then detect possible innovations. It is designed to summarize strategic situation which also includes the plan of innovations. Moreover is useful tool for understanding and decision-making for all sorts of situations in planning innovations.
The SWOT Analysis should contain only sufficient information for any reader to be able to see why a particular issue counts as a strength, weakness, opportunity or threat, and what the implications are for company that is being analyzed.
This tool is widely used in different contexts as well, but the methodology is the same. As such, information on SWOT Analysis methodology can be found in the Module called “3.0 STRATEGIC PLANNING”