SWOT is a much utilized tool for identifying, gathering, interpreting and assessing internal and external data based on four key-variables (Strength, Weakness, Opportunities and Threats). Developed by Harvard Business School during the 1960 s, SWOT has been criticized on several grounds for being a top-down approach for gathering data; for creating a separation between those who think and those who do; for downplaying emergent strategies during the process of experimentation as opposed to intended strategies, and for neglecting anticipated future situations as opposed to current ones. In an attempt to remedy such weaknesses, this paper proposes two explorative frameworks similar to SWOT both in number of components and in utility. The first is PEAK where the components stand for: Power, Earnings, Artistry or Activity and Knowledge. The second is SETS where the components stand for: Solidity, Extent, Type and Segment or specialization. These two frameworks can be combined with SWOT and they can also be used separately in working with areas unrelated to SWOT.
