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What is a SWOT analysis?
A SWOT analysis is a tool that helps you navigate what your company does best at the moment, and also assists in the process of developing a successful strategy for the future. It reveals those areas of the business that are hindering your development or that your competitors could take advantage of if you don't strengthen your defenses.
SWOT analysis examines both internal and external factors - i.e. what is happening inside and outside your organisation. Some of these factors will be within your control and others will not. It is therefore important to take care to identify, record and analyse them so that you can take the most sensible action in response.
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