SWOT helps businesses make decisions. Watch to learn more about what SWOT analysis is and how it can be beneficial.
SWOT analysis, short for strengths, weaknesses, opportunities, and threats analysis, is a framework for analyzing the internal and external factors that can impact the viability of a project, product, place, or person. SWOT analysis is usually used by businesses to assess initiatives, products, or projects, but has also been used by nonprofits and individuals.
A SWOT analysis is essentially used as a planning strategy, allowing organizations to discover new opportunities for success, or even reveal potential threats before they become too burdensome. It creates a visual representation of the various factors that can impact success.
How does your business or organization use SWOT analysis? Let us know in the comments, and remember to give this video a like.
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