A businesses strengths and weaknesses constitute its internal factors while the opportunities and threats faced by the business makes up its external or environmental factors. Smartsheet’s SWOT Analysis template retains the typical spreadsheet layout, and provides row sections to evaluate the strengths, weaknesses, opportunities, and threats related to your project or organization. The customizable columns allow you to evaluate multiple competitors or SWOT factors separately, and the easy-to-read format ensures that everyone - even those unfamiliar with SWOT analyses - can collaborate. Additionally, you can attach relevant files and log comments, and set alerts to stay up to date on project status and progress. This analysis can be applied to products, places, people and any types of industries. SWOT Analysis is a strategic business planning tool that can be used for analyzing different business situations faced by a company. This analysis allows businesses to assess their current positions in the market. See our SWOT analysis examples article for in-depth examples of SWOT analyses for several different industries, or download our free SWOT analysis template.