SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, opportunities and Threats involved in a project or business.
~ Strengths refer to characteristic of the business or team that an advantage over others in the industry.
~ Weaknesses refer to characteristic that place the firm at a disadvantages relative to others.
~ Opportunities refer to external chances to make greater sales or profits in the environment.
~ Threats refer to external elements in the environment that could cause trouble for the business.
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