SWOT Analysis stands for Strengths, Weaknesses, Opportunities and Threats. These four areas can be used to analyze your business or organization to better perform strategic planning and assessments. Once you understand your SWOT, you can put into place a plan that will help your company succeed and thrive. If you are in a crisis, a SWOT analysis can help in your turnaround, if you are not in a crisis, a SWOT analysis will help you to understand how to perform even better.