SWOT Analysis

SWOT Analysis is a strategic planning tool used to identify a business's Strengths, Weaknesses, Opportunities, and Threats. Strengths are internal attributes that give the business an advantage, while Weaknesses are internal factors that could hinder success. Opportunities are external chances to grow or improve, and Threats are external challenges that could harm the business. By evaluating these four areas, businesses can develop effective strategies to leverage strengths, address weaknesses, take advantage of opportunities, and mitigate threats, ultimately enhancing their decision-making and strategic planning.