What do you understand by SWOT analysis?
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SWOT stands for ‘Strengths, Weaknesses, Opportunities and Threats’. This is a method to analyze the environment and the company’s standing in it.
SWOT consists of two parts. The strengths and weaknesses refer to the internal environment of a company while the opportunities and threats are related to the external environment.
Internal problems and issues are constantly dealt with. But external factors such as opportunities and threats are not in a company’s control.