What is a SWOT Analysis?
Before you can implement this personal improvement tool, first you should know what it is and how it works. SWOT stands for:
- Strengths
- Weaknesses
- Opportunities
- Threats.
Conducting a SWOT analysis in business is a tried-and-true method of identifying internal strengths and weaknesses, as well as external opportunities and threats. A SWOT analysis can highlight precise information, which you can use to develop an action plan.
The analysis offers business awareness because it provides vital information leaders need to create a strategic plan for growth. To accurately map out a business’s future you first need to evaluate it from every angle. A SWOT analysis offers a comprehensive analysis in four easy steps.
The next slide will assist you in conducting a personal SWOT analysis.