SWOT analysis

Carrying out a SWOT analysis will help you identify which ideas are worth taking forward to the innovation stage.

SWOT is an acronym that stands for Strengths, Weaknesses, Opportunities and Threats.

  • Strengths are characteristics that give an advantage over others.
  • Weaknesses are characteristics that are disadvantageous relative to others.
  • Opportunities are features that can be exploited to advantage.
  • Threats are features that could cause problems.

Strengths and weaknesses can be identified in relation to an idea, process, product, service, person or business.

Opportunities and threats are external factors that could impact on these elements.