SWOT

Decision making is something we do everyday at every moment. There are simple decisions such as deciding what to drink when you are thirsty and then there are hard decisions like where to invest your money. When we make a decision we go through a process in order to make the decision. When it comes to harder decisions sometime we have to write it down and use a process in order to make the correct decision. The SWOT Analysis Strategy is a common decision making approach used by many to help them through the process.

SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. “ These four factors are the major players when it comes to business decision making. Each refers to things that may be internal or external to the business, which might have significant impact on achieving goals and objectives.” [1] By analyzing the strengths, weakness, opportunities and threats of the decision it breaks it down for the person to see everything the decision will do or not do for them. It is very affective because the SWOT analysis makes the person really think about what they are getting into. I have personally used the SWOT analysis to help me with my decision making and it really helped me to analyze how the decision would impact my life. “ The idea is that you identify the strengths and weaknesses of your service, pinpoint opportunities and note threats in order to make good decisions . SWOT is normally an assessment of a business or a proposition, whether your own or a competitor’s.”[2]

[1] Lu, Wagz. "SWOT Analysis: A Powerful Tool for Business Decision Making." Associated Content from Yahoo! - Associatedcontent.com. Web. 09 Nov. 2011. .

[2] "The SWOT Model | Decide-guide.com." | Decide-guide.com. Web. 09 Nov. 2011. .