What is use of Swot analysis in the business organization?

Question

Accepted Answer

SWOT analysis is a strategic planning tool used to identify strengths, weaknesses, opportunities, and threats of a business organization.

SWOT analysis helps businesses to identify their internal strengths and weaknesses, as well as external opportunities and threats.
It helps in developing strategies to capitalize on strengths, address weaknesses, take advantage of opportunities, and mitigate threats.
For example, a company may use SWOT analysis to identify its strengths in customer service, weaknesses in marketing, opportunities in a new market segment, and threats from competitors.
SWOT analysis can be used for overall business planning, product development, marketing strategies, and risk management.
It is a useful tool for decision-making and can help businesses stay competitive in their industry.

Top Tekskills Customer Support Associate interview questions & answers