What is SWOT Stands for?

SWOT stands for Strengths, Weakness, Opportunities, and threats.

What does SWOT analysis mean?

SWOT analysis is a strategic planning technique used to help a person or organization identify the Strength, weaknesses opportunities, and threats related to business or any field of an organization.

Swot analysis is the most fundamental factor anyone can use everywhere to check your status and is your position is good or not. if you analysis your self then you will able to know your weaknesses and strength areas, so it is most significant to improve your mistakes and buildup your weakness thorough swot analysis.

The swot analysis provides information that is helpful in matching the firm's resources and capability to the competitive environment in which it operates.
SWOT-SWOT stands for Strengths, Weakness, Opportunities, and threats.

Strength:

A firm strength is its resources and capabilities that can be used as a basis for developing a competitive advantage.

Examples can be:

Strong brand name
if our brand names are strong our growth will be an increase.
People always look at the quality before purchasing the product so brand name matters a lot.

Weakness:

The absence of certain strengths may be viewed as a weakness.
Example:
If we face these kinds of difficulties so it could be our weaknesses, areas below
It can be a weak brand name
  • High Cost
  • poor reputation among customers.

Opportunities:

These are the favorable conditions for the growth of the business.
example: an unfulfilled customer needs the arrival of new technology

Threats:

Change in the external environment also may present a threat to the firm.