What does a SWOT analysis help identify?

A SWOT analysis is a strategic planning tool used to identify and assess the internal and external factors that can impact an organization's success. The acronym stands for Strengths, Weaknesses, Opportunities, and Threats. By analyzing these four elements, organizations can gain valuable insights into their current position in the market and how they can leverage their strengths or address weaknesses in relation to external opportunities and threats.

Identifying strengths allows a business to understand what it does well, while weaknesses reveal areas requiring improvement. Opportunities highlight potential areas for growth or advantage that can be capitalized on, whereas threats could indicate external challenges that need to be monitored or mitigated.

In contrast, the other options do not capture the comprehensive nature of a SWOT analysis. Budget allocation for advertising is concerned with financial planning, while company culture and team dynamics focus on internal relationships and organizational behavior. Lastly, shipping methods and logistics pertain to the operational aspects of supply chain management, none of which directly address the strategic overview provided by a SWOT analysis.