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S.W.O.T expands as Strength, Weakness, Opportunities, and Threats. An efficient SWOT analysis is what gives the insight of any company’s internal and external environment. It is highly important to conduct regular SWOT analysis for the sustainability of any organization. It is extremely helpful in planning and making strategies to achieve the goals of any company or business organization.
Let we expand the terms a little further to give students a bit of idea on what SWOT analysis actually consists of.
Strength: the strengths of a company include its available resources, manpower, and brand value in the market, its image, and its ability to cope with unfavorable situations.
Weakness:the weakness of an organization can be defined as its inabilities to produce strong products and create a high brand value in the market.
Opportunities:opportunities are the way to enhance the overall production and brand image by reaping out the most benefits from keeping a close eye on the availability of good resources.
Threats:competition is the most common type of threat foe any company. Apart from that change in the demand of a certain product among consumers, increase in taxes imposed by government, inflation, etc. are some of the biggest threats known to a business.
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