![]() ![]() Step 1 Before a SWOT analysis, goal of SWOT analysis must be clearly defined. You’ll find a SWOT analysis will provide you with a good foundation for your strategy, business proposition, the position of your company, the direction of your company, and even discover which ideas are worth pursuing. The benefit for such a methodology is that all our strengths weaknesses, opportunities and threats are right in front of us and can easily be related to each other. SWOT analysis is carried out using a usually 2x2 Matrix method. work hours, marketing methods, benefits to employees. Internal factors of organization can be controlled e.g. External factors are those which you cannot control like vendor prices, government taxation etc. ![]() The four factors aforementioned depend upon both external and internal factors of your organization. What makes SWOT analysis a powerful tool is that with little reflection, you can uncover the opportunities waiting on your door step, identify threats and problems to eliminate, and discover weaknesses to eradicate It is primarily used in decision making situation when objective is fully defined. ![]() It can be carried out for product, place, industry or person. It is a structured planning method used in projects and businesses. SWOT Analysis is for better understanding your Strengths and Weaknesses, and to identify the Opportunities and the Threats that you are facing. More Information about SWOT Analysis Template
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