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SWOT Analysis
An analytical tool used by businesses to identify internal strengths, weaknesses, external opportunities, and threats.
Strengths
Qualities that separate the business from rivals, internal resources, possession of assets, loyal customer base, effective leadership.
Weaknesses
Ways in which the business lags behind competitors, resource or capital limitations, lack of competitive advantage, lack of a unique selling proposition, poor online presence.
Opportunities
Options a business may exploit to enjoy further success, developing markets, few competitors, changing legal or political environment, social or technological developments, economic indicators.
Threats
Hazards that have the potential to damage business performance, new or emerging competitors, changing legal or political environment, social or technological developments, economic indicators, negative press coverage.
Stakeholder involvement
Involving input from various stakeholders within the organization to provide a broader understanding of strengths, weaknesses, opportunities, and threats in SWOT analysis.
