Full context:   Also in 1965, four colleagues at the Harvard Graduate School of Business Administration (later the Harvard Business School)—Edmund P. Learned, C. Roland Christensen, Kenneth R. Andrews, and William D. Guth—published the first of many editions of the textbook Business Policy: Text and Cases. (Business policy was a term then current for what has come to be called strategic management.) The first chapter of the textbook stated, without using the acronym, the four components of SWOT and their division into internal and external appraisal: Deciding what strategy should be is, at least ideally, a rational undertaking. Its principal subactivities include identifying opportunities and threats in the company's environment and attaching some estimate of risk to the discernible alternatives. Before a choice can be made, the company's strengths and weaknesses must be appraised.