What framework is used to assess both internal strengths and weaknesses as well as external opportunities and threats?

The framework used to assess both internal strengths and weaknesses as well as external opportunities and threats is known as SWOT Analysis. This tool provides a comprehensive overview by categorizing factors into four distinct areas:

1. Strengths: These are internal attributes and resources that support the successful completion of objectives. By identifying strengths, organizations can leverage their advantages in the market.

2. Weaknesses: These are internal factors that might hinder an organization's performance. Acknowledging weaknesses allows organizations to address gaps and improve overall efficiency and competitiveness.

3. Opportunities: These are external conditions that could be advantageous to the organization, which can be capitalized on for growth or improvement.

4. Threats: These are external challenges that might pose risks to an organization. Recognizing threats enables businesses to put strategies in place to mitigate potential impacts.

Consequently, SWOT Analysis is particularly effective for strategic planning and decision-making, enabling organizations to navigate their environment and align their internal capabilities with external conditions. Other frameworks mentioned, like PESTLE Analysis, primarily focus on external factors, and Value Chain Analysis concentrates more on internal processes to identify value-added opportunities. Market Segmentation involves dividing a broad consumer or business market into sub-groups based