SWOT analysis is an instrument for auditing an association and its
atmosphere . It is the initial step of planning and assists marketers to
focus on vital matters . SWOT stands for strengths , weaknesses ,
opportunities , and threats . Strengths and weaknesses are internal
aspects while opportunities and threats are external aspects .
A SWOT analysis is the procedure a business entity goes through in an
attempt to recognize key regions for business opportunities . Focusing on
Strengths , Weaknesses , Opportunities , and Threats in an organized way ,
the business entity can devise strategies that will take benefit of
prospects by concentrating on strengths , evading threats , and balancing