SWOT analysis will enable you to gain an advanced strategic understanding of your business. It is a technique where you can deal with the positive and negative factors in detail about the work you will do or the project to be started while taking important steps for your organization. SWOT consists of strengths, weaknesses, opportunities and threats. SWOT analysis gives you a better understanding of how all these factors can affect the functioning of your organization.
Briefly, SWOT analysis is an analysis study carried out with the aim of creating a plan and strategy for the future as a result of detailed comparison of strengths, weaknesses, opportunities and threats placed in a four-column table.
Why SWOT Analysis is Important?
SWOT analysis enables you to uncover situations that may have negative consequences for your organization's performance and to better understand risky processes. You need to proceed with the SWOT analysis in a careful and systematic manner. In this way, it will provide new information about where your business is positioned in the industry, and it will also help you develop exactly the right strategy for every possible situation.