Define the four areas of the SWOT analysis.

Strengths: This area looks at the internal capabilities of an organization—its resources and competitive advantages. It covers things such as financial position, brand equity, customer loyalty, employee skills and innovative processes.

Weaknesses: This section takes into account any shortcomings or vulnerabilities within an organization that could be improved upon or act as potential hindrances in achieving its goals. Examples include limited capital resources, lack of experience in new markets or outdated technology infrastructure.

Opportunities: Here the focus is on external factors that may provide growth opportunities for the business such as expanding into new markets or introducing new products/services to existing customers.

Threats: Last but not least are threats that can negatively affect an organization’s performance such as competition from other players in the industry or changing regulations/legislation that could lead to increased costs or unwelcomed changes to operations.