SWOT analysis – how to use SWOT analysis

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What is SWOT analysis? SWOT analysis is a tool for auditing an organisation and its environment. It is the first stage of planning and helps marketers focus on key issues. SWOT stands for strengths, weaknesses, opportunities, and threats. While strengths and weaknesses are internal factors, opportunities and threats are external factors (Needham et al, 1995). How to use SWOT analysis? SWOT analysis is a brilliant business tool. Both organisations and people can apply it in a number of contexts. For example, one can carry out a personal audit by using […]