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Introduction
Researchers in strategic management ([5] Ansoff, 1965; [4] Andrews, 1987; [152] Porter, 1991; and [127] Mintzberg et al. , 1998) agree SWOT or Strengths, Weakness, Opportunities, and Threats, analysis provides the foundation for realization of the desired alignment of organizational variables or issues. By listing favorable and unfavorable internal and external issues in the four quadrants of a SWOT analysis grid, planners can better understand how strengths can be leveraged to realize new opportunities and understand how weaknesses can slow progress or magnify organizational threats. In addition, it is possible to postulate ways to overcome threats and weaknesses (e.g. [69] Hofer and Schendel, 1978; [171] Schnaars, 1998; [122] McDonald, 1999; [93] Kotler, 2000), or future strategies, from SWOT analysis.
SWOT history
The origin of the term "SWOT" is unknown. SWOT analysis was described by [100] Learned et al. (1969) and has grown as a key tool for addressing complex strategic situations by reducing the quantity of information to improve decision-making. On-line wikis credit SWOT's origination with Stanford University Professor Albert Humphrey who led a research project in the 1960s and 1970s based upon the United States' Fortune 500 companies but no academic references to support this claim can be found ([88] King, 2004). [59] Haberberg (2000) stated SWOT was a concept used by Harvard academics in the 1960s while [187] Turner (2002) attributed SWOT to Igor [6] Ansoff (1987).
[90] Koch (2000) credited the contributions of [193] Weihrich (1982), [36] Dealtry (1992), and [195] Wheelan and Hunger (1998) to SWOT's further development and innovation. [195] Wheelan and Hunger (1998) used SWOT to find gaps and matches between competences and resources and the business environment in their popular business policy and strategy text while [36] Dealtry (1992) approached SWOT in terms or groups and vectors with common themes and interactions. Regardless of the exact historical credit for coining the term "SWOT", it has a half-century of use and documentation in the literature.
SWOT usage
SWOT has been used by countless practitioners, marketing researchers, and is a frequent and popular tool for business marketing and strategy students. Its simplicity and catchy acronym perpetuates its usage in business and beyond as the tool is used to assess alternatives and complex decision situations. In the business arena the...