SWOT Analysis for Assessing Entrepreneurship Readiness

SWOT analysis (strengths, weaknesses, opportunities, and threats analysis) is a framework for identifying and analyzing the internal and external factors that can have an impact on the viability of a project, product, place or person. SWOT analysis guides to identify the positives and negatives inside an institution / organization / group (S-W) and outside of it, in the external environment (O-T). Developing a full awareness of a situation can help with both strategic planning and decisionmaking. The technique is credited to Albert Humphrey of the Stanford University, USA and was originally developed in the 1960s for business and industry, but it is equally useful in other arenas, and even personal growth. SWOT is not the only assessment technique you can use, but is one with a long track record of effectiveness. The strengths of this method are its simplicity and application to a variety of levels of operation. The technique that enables a group / individual to move from everyday problems / traditional strategies to a fresh perspective