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SWOT analysis is a method of assessing a company’s competitive position. It involves analyzing the company’s strengths, weaknesses, opportunities, and threats. It is a useful analytical tool for business decision-making.
The SWOT analysis separates the competitive environment into internal and external components. The idea is to objectively evaluate the company’s strengths and weakness, to objectively evaluate the industry’s opportunities and threats, and then to match up strengths and opportunities to implement profitable initiatives. The analysis can also be used to identify areas that need improvement. Advantages and Disadvantages
SWOT analysis is a simple and straightforward method of evaluating projects and objectives. It is also a simple and straightforward method of conveying business strategy and initiatives to employees. The disadvantage is that it may be too simplistic. SWOT analysis may overlook the nuances and finer details of a complex situation.