1. Define what a SWOT analysis is and its purpose.
A SWOT analysis is a tool that helps you identify the strengths, weaknesses, opportunities, and threats of your company or organization. It’s one of the most important tools in business decision-making because it lets you think about all aspects of your business at once and provides an objective view of your company’s strengths and weaknesses in order to make better decisions about where to focus time, energy, and resources.
2. Understand what information is needed to complete a SWOT analysis.
You’ll need to gather information on both internal factors (such as your management team’s abilities) and external factors (such as competitor strategies). You can use this information to develop scenarios for how these factors might affect each other over time so that you can plan ahead for potential challenges or opportunities they might present.
3. Know how to identify the strengths, weaknesses, opportunities, and threats of a company or organization.
Strengths can include things like having great customer service or being well-known in your industry; weaknesses might include slow production times due to outdated equipment; opportunities could be launching new products or services that are timely with growing trends; and threats could be losing key employees due to low salaries or benefits packages
