In this paper, I investigate the use of SWOT analysis and the resource based view as tools to elaborate a business plan and in academic research by assessing the two methods’ strengths and weaknesses.   I found that SWOT analysis is useful to structure and prioritise information in a short and concise way. Even though, the information and the information collection methods as well as the concepts and theories used in combinaton with the model and their quality is of the most importance for a proper use of the model.   The resource based view is useful to reflect over which internal resources are the most valuable for the company, even though it can be difficult to assess the most important assets, i.e. the intangible assets. I also found that the fact that the resource based view, which is a explanantory theory, is used as a predicative theory causes uncertainaty and is problematic.