SWOTT is a research, analysis, and planning tool used to evaluate the Strengths, Weaknesses, Opportunities, Threats, and Trends that affect a project or business venture ...
SWOTT involves defining the key objectives of a business venture or project, then identifying the internal and external factors that are favorable or unfavorable to achieving that objective ...
- Strengths (internal factors): What are the attributes of the organization that are helpful to achieving the objective? How can we use each strength?
- Weaknesses (internal factors): What are the attributes of the organization that are harmful to achieving the objective? How can we eliminate each weakness?
- Opportunities (external factors): What are the external conditions that are helpful to achieving the objective? How can we exploit each opportunity?
- Threats (external factors): What are the external conditions which could do damage to the business's performance? How can we defend against each threat?
- Trends (internal and external factors): What are the current trends that will affect the strengths, weaknesses, opportunities, and threats in the near and long term? What should the organization do to take advantage of the positive trends and avoid the negative?
Sometimes you may see SWOT (one T) instead of SWOTT (two Ts). Trends was added to the original SWOT to reflect the importance of time and timing using this analysis tool.