"The SWOT seems to be transforming to Strengths, Weaknesses, Opportunities and Challenges (SWOC)." Explain how the threats perceived earlier are now taken up more seriously and positively in terms of challenges ?

SWOT analysis is a two-by-two matrix, with horizontal pairings of internal (strengths and weakness) and external (opportunities and threats) factors and vertical pairings of helpful (strengths and opportunities) and harmful (weaknesses and threats) factors in achieving an objective. Final results of the analysis will help the organization determine whether objectives, products, services, projects or goals are a strategic fit. The best strategic fits are when the internal environment (strengths and weaknesses) aligns with the external environment (opportunities and threats). Users of a SWOT analysis often ask and answer questions to generate meaningful information for each category to make the tool useful and identify their competitive advantage. Strengths and weakness are inherent, while opportunities, and threats come from outside/external factors. The degree to which the internal environment of the firm matches with the external environment is expressed by the concept of strategic fit. Identification of SWOT (or TOWS) is important because they can predict planning to achieve the objective. Over the years, the interpretation of 'T' or Threat has witnessed a change. Although conceptually similar in nature, T seems to have given way to C (or challenges), notable perceptible difference. This C appears to be more positive in redefining the business and industry pre-analysis in the wake of business trends across the globe. Organization are fast becoming multi-dimensional in terms of products and services. Diversification, although guarded, is showing signs of resurgence in India. Open market access always adds to the competency, be it industrial sector or a company there-in. Hence, the word challenges is more competitive in nature and far more acceptable psychologically for any business entity as compared to threat.