SWOT analysis
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Components of SWOT Analysis:
Strengths (S): Internal positive attributes or resources that give an advantage over others.
Weaknesses (W): Internal negative factors that put the entity at a disadvantage.
Opportunities (O): External factors that could be exploited to its advantage.
Threats (T): External elements in the environment that could cause trouble or challenges.
By identifying these four aspects, organizations can:
Leverage their strengths
Improve upon their weaknesses
Capitalize on opportunities
Mitigate potential threats
A SWOT analysis helps in making informed decisions, developing effective strategies, and gaining a competitive edge in the market.
