What is SWOT analysis

A Strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats of a business or project.

SWOT stands for:

• Strengths: Internal factors that give a business or project an advantage over competitors.
• Weaknesses: Internal factors that put a business or project at a disadvantage compared to competitors.
• Opportunities: External factors that present potential advantages or opportunities for a business or project.
• Threats: External factors that may pose a threat or risk to a business or project.

By analyzing these factors, businesses can gain a deeper understanding of their internal and external environment and develop strategies to capitalize on their strengths, address their weaknesses, take advantage of opportunities, and mitigate potential threats.

SWOT analysis can be used for a variety of purposes, such as strategic planning, market research, and product development. It is a useful tool for businesses of all sizes and industries, and can help them make informed decisions and stay ahead of their competition.