Which of the following best defines a SWOT analysis?

The choice that defines a SWOT analysis accurately highlights its focus on assessing an organization's strengths and weaknesses, which are elements within its internal environment. A SWOT analysis is a strategic planning tool that helps organizations understand their internal capabilities and limitations—strengths such as unique resources or a competitive advantage and weaknesses such as lack of expertise or resource constraints.

In addition to the internal evaluation, a comprehensive SWOT analysis also examines external factors, including opportunities and threats in the external environment. However, the core aspect of the analysis is how an organization's specific strengths and weaknesses can impact its strategy and operational effectiveness.

The other choices do not capture the essence of a SWOT analysis. For instance, measuring tangible versus intangible assets does not encompass the broader nature of the internal and external assessments. Similarly, regulatory agencies conducting assessments focus on compliance and performance metrics rather than strategic evaluations like SWOT. Also, reviewing internal processes separately from external environmental factors is not aligned with the SWOT methodology, which emphasizes the interplay between internal strengths/weaknesses and external opportunities/threats.