What is SWOT Analysis
What is SWOT Analysis SWOT analysis or position analysis is a crucial exercise that all businesses should undertake at regular intervals, whether they are new or old. It is basically a critical appraisal of the Strengths and Weaknesses, Opportunities and Threats in relation to the internal and environmental factors affecting a business. By undertaking a SWOT analysis a business will be able to prepare much better short and long term plans. It will also allow them to identify gaps between their actual and desired performance and aid them in closing these gaps. Strengths - These are the things that your business does well. It may be that the marketing of your organisation is better than your competitors or your product is more advanced. Whatever these attributes are, list them down under this heading. Weaknesses - This is an area where you will need to be very truthful withy yourself. Here you need to list down things about your organisation where the performance is weak. For instance, ...