SWOT analysis stands for Strengths, weaknesses, opportunities, and threats. It is a technique an individual or company can analyse four major aspects of business which are its strengths, weaknesses, opportunities and threats. It is a process that helps in evaluating the competitive position of the company in the industry and gives an overview to access strategic development planning. The core objective of SWOT analysis is to acknowledge the details that can accelerate organisational growth. The company can make effective use of its strengths, work on minimising its weaknesses, work to grab opportunities and stay aware of the threats it can get. An individual or employee can accelerate SWOT analysis in both internal and external environments.
