Which of the following best describes the SWOT analysis tool?

The description of SWOT analysis as identifying strengths, weaknesses, opportunities, and threats is accurate and encapsulates the full purpose of this strategic planning tool. SWOT analysis is widely used in various fields, including business strategy, marketing, and risk management. It encourages organizations to assess their internal factors (strengths and weaknesses) alongside external factors (opportunities and threats) to gain a comprehensive understanding of their current position and potential future scenarios.

By identifying strengths, an organization can leverage these to its advantage; acknowledging weaknesses allows for the development of strategies to mitigate them. Opportunities can inspire growth and innovation, while recognizing threats can lead to the establishment of preventive measures. This holistic view provided by SWOT analysis aids in informed decision-making and strategic planning, which is why option C is the best description of this tool.