SWOT ANALYSIS is a tool that measures a business’s strengths and weaknesses. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. Let’s first try to understand the meaning of the term Swot Analysis. Companies conduct a SWOT analysis to develop the best strategy to survive in the competitive market. The business manager must also do an analysis of the opportunities and threats facing the business. SWOT ANALYSIS MISTAKES YOU SHOULD AVOIDįor a business to survive in competition, it must identify what makes it strong and what can kill it.Application of Swot analysis in strategic planning.Make adjustments to the existing strategies.Providing Solutions to existing and potential problems. When does a company manager use swot ANALYSIS?.Steps followed when coming up with a SWOT analysis.Evaluation of External factors (Opportunities and threats).Evaluation of internal factors (strengths and weaknesses).
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