What does SWOT analysis identify?

SWOT analysis is a strategic planning tool that provides a comprehensive framework for understanding an organization’s internal and external environments by identifying four key components: strengths, weaknesses, opportunities, and threats.

Strengths refer to the internal attributes and resources that give the organization an advantage over others. Weaknesses, on the other hand, are internal factors that may hinder an organization from achieving its objectives. Opportunities encompass external factors that the organization can exploit to its advantage, while threats involve external challenges that could potentially harm the organization.

By examining these four elements, organizations can develop strategies that leverage their strengths, address their weaknesses, capitalize on opportunities, and mitigate threats. This holistic approach allows for well-informed decision-making and strategic planning, which is crucial for effective laboratory management and aligns with the principles advocated in laboratory leadership and administration.

The other options either limit the scope of the analysis by omitting key components or introduce unrelated terms, thus failing to convey the full picture that a SWOT analysis provides.