What Do You Mean By SWOT Analysis?

What Do You Mean By SWOT Analysis?

1 Answer

  1. SWOT analysis is a competitive analysis technique.
    SWOT stands for Strength, Weakness, Opportunities and Threats.
    1. Strength: It is an internal factor that affect business. On identifying strengths of business you can use those wherever applicable.
    2. Weakness: Weakness is also an internal factor. Competitors weakness can be turned into opportunity for us. Working on competitors weakness will increase profitability.
    3. Opportunities: It is an external factor. As mentioned earlier competitors weakness can be used as an opportunity. When it comes to your own business, your strengths can be used to generate opportunities for business if used wisely.
    4. Threats: Threat is also an external factor. Competitors strengths act as a threat for us.
    Here is a detailed article on SWOT analysis: https://www.feedough.com/swot-analysis/

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