Rediscovering SWOT analysis: The extended version

Abstract

Abstract Conceptually, the scanning of the external environment and the company's internal capabilities influences strategic goals. Planners are expected to make strategic choices out of this scanning activity to ascertain which company goals are most feasible, promising and achievable. SWOT (acronym for Strengths, Weaknesses, Opportunities, and Threats) is an extremely useful tool required to respond to the changes in the company's environment. This paper focuses on critically examining the marketing and strategic choices of using this tool, and further introduces a diagrammatic representation of a new conceptual structure of the framework. This new conceptual framework provides a better approach to the SWOT analysis. Prior to that, the paper investigates the history of the SWOT analysis and review related literature on the tool. A brief critique of the SWOT framework is also addressed.