A
SWOT analysis (alternatively
SWOT matrix) is a structured
planning method used to evaluate the
strengths, weaknesses, opportunities and threats involved in a
project or in a
business venture. A SWOT analysis can be carried out for a product, place, industry or person. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective. Some authors credit SWOT to
Albert Humphrey, who led a convention at the Stanford Research Institute (now
SRI International) in the 1960s and 1970s using data from
Fortune 500 companies. However, Humphrey himself does not claim the creation of SWOT, and the origins remain obscure. The degree to which the internal environment of the firm matches with the external environment is expressed by the concept of
strategic fit.