SWOT analysis, which stands for the assessment of one’s Strengths, Weaknesses, Opportunities, and Threats, serves as a fundamental framework for appraising one’s competitiveness. This analysis method scrutinizes both internal and external factors, taking into consideration the present circumstances as well as future possibilities. The key purpose of conducting a SWOT analysis is to facilitate an impartial and evidence-based assessment of the strengths and weaknesses of an entity.
Key takeaways of SWOT analysis
- SWOT analysis aids in evaluating both the internal and external factors that influence a company's strengths and weaknesses.
- Helps to recognize fundamental strengths, weaknesses, opportunities, and threats which leads to evidence-based analysis, novel viewpoints, and innovative ideas.
- The results of a SWOT analysis are frequently amalgamated to bolster a specific goal or decision that an individual confronts.
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S |
Weaknesses |
O |
Threats |
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Strength |
W |
Opportunities |
T |
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Helpful to
achieving the objective |
Harmful to
achieving the objective |
Factors that help to realize goal |
Issues that need to be resolved |
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