From the course: Conducting a SWOT Analysis
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What is a SWOT analysis?
- [Narrator] Chances are that if you're watching this course, you've already heard of and have probably participated in a SWOT workshop or event at least once in your career, whether you knew it or not. A SWOT analysis is a management tool that enables a leadership team to manage change. The name SWOT is an acronym of four key areas of a business, product, or operation under a management team's focus, specifically its strengths, weaknesses, opportunities, and threats. So where did SWOT come from? Albert Humphrey is largely credited with the origins of SWOT. While leading a research team at Stanford University during the 1960s and 1970s, Humphrey sought to understand why corporate planning would often fail. Humphrey's research initially identified that what is good in the present is satisfactory, good in the future is an opportunity, bad in the present is a fault, and bad in the future is a threat. He developed a team action model addressing each of these four areas as change…
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