SWOT analysis (alternatively SWOT matrix) is an initialism for strengths, weaknesses, opportunities, and threats—and is a structured planning method that evaluates those four elements of a project or business venture.
A SWOT analysis can be carried out for a product, place, industry, or person.
It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective.
Some authors credit SWOT to Albert Humphrey, who led a convention at the Stanford Research Institute (now SRI International) in the 1960s and 1970s using data from Fortune 500 companies.
 However, Humphrey himself does not claim the creation of SWOT, and the origins remain obscure.
The degree to which the internal environment of the firm matches with the external environment is expressed by the concept of strategic fit.
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