What is a SWOT Analysis
A SWOT analysis is a framework used in strategic planning and marketing. It provides you with the knowledge to create plans to improve your business.
SWOT is defined as an acronym for Strengths, Weaknesses, Opportunities and Threats. It is a critical strategic planning tool used to isolate an issue, conceptualize a workable solution, and then remove that issue as an ongoing concern.
SWOT Analysis Example
The SWOT analysis example below clarifies the internal and external factors and their relevance to the business’s operations. First, we’ll review the SWOT analysis example, and then we’ll review the individual action plan that emerges.