To define:
SWOT analysis (alternately SLOT analysis) is a strategic planning method used to evaluate the Strengths,Weaknesses/Limitations, Opportunities, and Threats involved in a project or in a business venture.
- Strengths: characteristics of the business, or project team that give it an advantage over others
- Weaknesses (or Limitations): are characteristics that place the team at a disadvantage relative to others
- Opportunities: external chances to improve performance (e.g. make greater profits) in the environment
- Threats: external elements in the environment that could cause trouble for the business or project
Case study of HRM:
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