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SWOT analysis is a strategic planning tool used to identify and assess the internal and external factors that can affect the success of a project or organization. The acronym stands for Strengths, Weaknesses, Opportunities, and Threats.

Strengths and Weaknesses are internal factors that focus on the internal environment of an organization, evaluating what it does well and where it may need improvement. Opportunities and Threats are external factors that examine the external environment, identifying potential areas for growth and challenges that could impact the organization’s success.

By conducting a SWOT analysis, organizations can develop a clear picture of their current situation and create strategies that leverage strengths, mitigate weaknesses, capitalize on opportunities, and prepare for potential threats. This broad view is crucial for effective decision-making and strategic planning.

In contrast, the other options proposed different meanings for the acronym that do not capture the established definition used in management and strategic planning contexts.