What is SWOT?
SWOT is an acronym that stands for Strengths, Weaknesses, Opportunities, & Threats.
SWOT analysis is a methodological tool designed to help workers and companies optimize performance, maximize potential, manage competition, and minimize risk. SWOT is about making better decisions, both large and small. It can help you determine the efficacy of something as small as introducing a new product or service or something as large as a merger or acquisition. Again, SWOT is a method that, once mastered, can only enhance performance.
As a small business owner, you may have already gone through the steps of putting together a SWOT analysis. If you are a new entrepreneur — or just thinking about starting your own business — maybe the concept of a SWOT analysis is new to you.
SWOT stands for Strengths, Weaknesses, Opportunities, Threats. When you take the time to complete a SWOT analysis, you can make better decisions for your business and brand.
Learn more about how a SWOT analysis can help your business by checking out “An Essential Guide to SWOT Analysis” on the Formswift website.Read More