What analysis involves evaluating strengths, weaknesses, opportunities, and threats related to a business?

The analysis that involves evaluating strengths, weaknesses, opportunities, and threats related to a business is known as SWOT Analysis. This method provides a structured way to assess both internal factors (strengths and weaknesses), which are inherent to the organization, and external factors (opportunities and threats) that could impact its performance in the marketplace. By conducting a SWOT Analysis, businesses can develop strategies that leverage their strengths, address weaknesses, capitalize on opportunities, and mitigate threats. This comprehensive approach is valuable for strategic planning, helping organizations to understand their position within the industry and tailor their efforts to achieve better outcomes.

Market Analysis, while important for examining market conditions and consumer trends, does not specifically focus on internal strengths and weaknesses of a business. Risk Assessment concentrates on identifying and evaluating potential risks, but it does not encompass a holistic view of both internal and external factors like SWOT does. A Business Review typically focuses on evaluating past performance and operational metrics rather than the in-depth analysis of strengths, weaknesses, opportunities, and threats.