An organization determines internal and external issues (clause 4.1).
When those external and internal issues are analyzed from the perspective of strategic direction, they can gain a positive or a negative connotation. That way those issues can be classified as:
Positive internal issues are strengths;
Negative internal issues are weaknesses;
Positive external issues are opportunities;
Negative external issues are threats.
Now you can organize that information with a SWOT matrix.