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WHAT IS A SWOT ANALYSIS? BY MATTHEW SANTANA SWOT stands for Strengths, Weaknesses, Why Is SWOT Analysis Important? Opportunities, and Threats, and so a SWOT analysis is a technique for assessing these four aspects of SWOT Analysis can help you to challenge risky your business. assumptions and to uncover dangerous blindspots about your organization's performance. If you use it SWOT Analysis is a tool that can help you to analyze carefully and collaboratively, it can deliver new what your company does best now, and to devise a insights on where your business currently is, and successful strategy for the future. SWOT can also help you to develop exactly the right strategy for any uncover areas of the business that are holding you situation. back, or that your competitors could exploit if you don't protect yourself. For example, you may be well aware of some of your organization's strengths, but until you record them A SWOT analysis examines both internal and alongside weaknesses and threats you might not external factors – that is, what's going on inside and realize how unreliable those strengths actually are. outside your organization. So some of these factors Equally, you likely have reasonable concerns about will be within your control and some will not. In some of your business weaknesses but, by going either case, the wisest action you can take in through the analysis systematically, you could find response will become clearer once you've an opportunity, previously overlooked, that could discovered, recorded and analyzed as many factors more than compensate. as you can. In this article, video and infographic, we explore how Strengths What do you do well? What unique to carry out a SWOT analysis, and how to put your resources can you draw on? What do others see findings into action. We also include a worked as your strengths. example and a template to help you get started on a SWOT analysis in your own workplace. Weaknesses What could you improve? Where do you have fewer resources than others? What are others likely to see as weaknesses? Opportunities What opportunities are open to you? What trends could you take advantage of? How can you turn your strengths into opportunities? Threats What threats could harm you? What is your competition doing? What threats do your weaknesses expose to you?
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