Opportunities: Market growth and trends that you can take advantage of to drive profits, become innovative, and adhere to compliance (Check out these gap analysis templates!).
These are business lags or mishaps embedded in your industry Weaknesses: Factors that put the business off guard concerning competitors.Strengths: Your location, intellectual properties, human resources, financials, etc., contributing to your business success.The first two factors are internal factors, while the latter are external factors. SWOT is an acronym standing for strengths, weaknesses, opportunities, and threats. It is structured for a fact-based, realistic, and data-driven view of the strengths and weaknesses of an individual, business, or organization. The analysis breaks down the external and internal factors of the current and future business potential. SWOT analysis is an organization’s structured framework to assess its strategic business planning and competitive position.
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