The Structure Of SWOT Analysis
SWOT analysis is a tool used to scrutinize an individual, team or organization and the environment. Strengths, Weaknesses, Opportunities and Threats can be identified. Strengths are positive traits and resources that contribute to success. Weaknesses are internal factors that limit your ability to achieve your goal. Opportunities are the external factors that you can use to thrive.Threats represent factors that are beyond your control that can cause harm and jeopardize the business. The goal of SWOT is to implement strategic thinking. You gain a better understanding of the present state, thus aiding in strategic planning and decision making.
Importance of SWOT
SWOT helps understand both internal and external factors that contribute to success. It unearths opportunities that you can exploit based on your strengths and exposes your weaknesses so that any threats can be neutralized.