“SWOT is an acronym for the internal Strengths and Weaknesses of a firm and the environmental Opportunities and Threats facing that firm. SWOT analysis is a widely used technique through which managers create a quick overview of a company’s strategic situation. The technique is based on the assumption that an effective strategy derives from a sound “fit” between a firm’s internal resources (strengths and weaknesses) and its external situation (opportunities and threats). A good fit maximizes a firm’s strengths and opportunities and minimizes its weaknesses and threats. Accurately applied, this simple assumption has powerful implications for the design of a successful strategy.”

Abbott Laboratories Company Overview

Abbott Laboratories (Abbott), one of the well-diversified global healthcare companies, is engaged in the discovery, development, manufacture, and sale of pharmaceuticals and medical products. The company markets its products in more than 130 countries. It is headquartered in Abbott Park, Illinois and employed 91,440 people as of December 31, 2010.