SWOT Analysis In Modern Business: A Qualitative Study

Abstract

This paper examines the relevance and application of SWOT analysis in modern business strategy through qualitative research involving interviews with 15 senior managers across various industries. The study reveals that while SWOT analysis remains valued for its simplicity and ability to foster collaboration, it faces significant limitations in today’s dynamic market environments, where rapid changes and data-driven decision-making are essential. Participants highlighted the tool’s static nature and subjective biases, which can hinder effective strategic planning. However, many organizations are successfully integrating SWOT with advanced analytics, scenario planning, and AI technologies to create a more dynamic framework. This research suggests that the future of SWOT lies in its evolution into a real-time, ongoing process that continuously adapts to changing market conditions. Ultimately, this journal emphasizes the need for businesses to enhance traditional SWOT analysis to maintain competitiveness and make informed strategic decisions in a fast-paced business landscape.