Which analysis method is used to assess strengths, weaknesses, opportunities, and threats within an organization?

SWOT analysis is a widely recognized framework specifically designed to evaluate an organization's internal strengths and weaknesses, as well as external opportunities and threats. This method helps organizations develop a comprehensive understanding of their current situation by categorizing these four elements, which informs strategic planning and decision-making.

Strengths and weaknesses focus on internal factors, such as company resources, capabilities, culture, and processes, while opportunities and threats pertain to the external environment, including market trends, competitor actions, and regulatory changes. By utilizing this holistic view, organizations can leverage their strengths, improve upon weaknesses, capitalize on opportunities, and mitigate potential threats.

In contrast, PEST analysis concentrates on external factors affecting an organization, such as political, economic, social, and technological influences, without addressing internal strengths and weaknesses. The BCG matrix is used to assess a company's portfolio of products or business units based on market growth and market share, which does not include the aspects of SWOT. Porter's Five Forces examines industry competitiveness and dynamics, focusing on market forces rather than internal and external factors related to a single organization. Thus, SWOT analysis is uniquely suited for this type of comprehensive assessment.