The Importance of a SWOT Analysis
The purpose of a SWOT (strengths, weaknesses, opportunities, and threats) analysis is to look at internal and external factors that affect your business. Strengths and weaknesses are your internal factors; and opportunities and threats are your external factors. A SWOT analysis is a useful tool when brainstorming and doing any form of strategic planning. It can also be used to achieve a specific goal, for example, to respond to a new trend; to take advantage of a new business