Generally speaking, a SWOT analysis is applied to an organization, although it can certainly be applied to various units of the organization, too. Within the context of education, there is no reason such an analysis could not be done upon an entire school district.
A strength of a school district might be magnet schools with great reputations, or it could be the kinds of labs and equipment the district makes available to its students. A weakness might be too many inexperienced teachers or insufficiencies in art and music education. An opportunity could an increase in state funding or the ability to compete for some great grants. One real and significant threat to public schools is the competition, which is charter schools and private schools, all of which can drain off students and state funding.
I would imagine that a SWOT analysis would be helpful to any number of school districts or even to individual schools, if anyone took the time and trouble to perform one. I refuse to think of public education as a business, but this is one business concept that might actually be useful!
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