SWOT is the acronym for Strengths, Weaknesses, Opportunities and Threats. The particular strength of SWOT is that it highlights new ways and possibilities to improve institutions and/or projects. It is also a helpful instrument in order to understand on the one hand one’s strengths and weaknesses and on the other not only the new opportunities but also the dangers and risks involved.
SWOT analyses help institutions and/or projects to pitch their strengths and weaknesses against the opportunities and threats posed by the surrounding environment. This instrument does not only help to gauge the current status but also to develop an appropriate strategy to effectively use resources, to create appropriate projects and to adopt optimal measures.
A SWOT analysis can also be used as an instrument für individual assessment to determine one’s own status and to develop personal strategies. Summarising, all of these possibilities make SWOT a very valuable tool for various situations and demands.
