According to the folks at BPlans:
"SWOT is probably the best tool there is for taking a strategic look at a company. It's named for strengths, weaknesses, opportunities, and threats. It's a very good first step towards analyzing any company, or developing business strategy."
"Of course you have to manage a SWOT meeting well. Like any other meeting subject, SWOT can degenerate into useless discussion. A SWOT meeting should focus on the SWOT agenda and avoid unrelated side discussions. It should invite contributions without reprisals for negative comments. It's a variation on brainstorming, so contributions -- as in suggested bullet points, suggested items on the list -- are all positive as long as they are well intentioned."
BOTTOMLINE: How does Six Disciplines approach SWOT? First, it's an integral part of Discipline VI. Step Back, of the Six Disciplines Methodology. Second, it's built right into our software, the Six Disciplines Business System. Finally, it is further enhanced by the use of the unique 100 point exercise application, which enables each stakeholder to rank how important each item raised in the SWOT is to themselves. Gone are the flip charts, napkins and random pieces of paper to record SWOT - and replaced by intuitive software that records, tracks, trends and enables execution to occur.