SWOT Analysis

What is SWOT Analysis?

SWOT analysis, or alternatively known as SWOT matrix, is a structured planning method used to evaluate the strengths, weaknesses, opportunities and threats involved in a project or in a business venture. A SWOT analysis can be carried out for a product, place, industry or person.

SWOT is represented by four elements which is pivotal in determining success, namely strengths, weaknesses, opportunities and threats.

·       Strengths: characteristics of the business or project that give it an advantage over others.

·       Weaknesses: characteristics that place the business or project at a disadvantage relative to others

·       Opportunities: elements that the project could exploit to its advantage

·       Threats: elements in the environment that could cause trouble for the business or project

 

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