What is the main purpose of conducting a SWOT analysis?

Conducting a SWOT analysis primarily serves the purpose of assessing the strengths, weaknesses, opportunities, and threats related to a business or project. This analytical framework is comprehensive, allowing organizations to examine both internal and external factors that could influence their performance. The correct choice emphasizes understanding current and emerging factors, which is critical for strategic planning and decision-making.

By looking at strengths and weaknesses, companies can leverage their capabilities and address internal challenges. At the same time, assessing external factors helps identify opportunities for growth and potential threats that might impede progress. Thus, SWOT analysis not only provides a snapshot of the current situation but also prepares businesses to adapt to changing environments and develop strategic plans effectively. This holistic view is essential for making informed decisions that align with long-term objectives.