Which factor is NOT part of a SWOT analysis?

In the context of a SWOT analysis, the framework is designed to evaluate an organization's internal strengths and weaknesses, as well as external opportunities and threats. Therefore, the four components are specifically defined as strengths, weaknesses, opportunities, and threats.

"Strengths" refer to the internal capabilities that give the organization an advantage over others. "Weaknesses" indicate areas where the organization is at a disadvantage or needs improvement. "Opportunities" are favorable external factors that the organization can capitalize on for growth or improvement. "Threats," on the other hand, represent external challenges that could harm the organization's performance or viability.

Business risks, while relevant in strategic planning and decision-making processes, are not a formal component of the SWOT analysis itself. They do encompass a range of factors that may affect an organization's strategy, but they are not categorized as a separate element within the SWOT framework. Thus, identifying business risks is important, but it falls outside the specific scope of SWOT analysis.