Original Content: Business Upside
SWOT Analysis is used by Organizations to analyze their current position, which helps them to develop a new strategy. Firms can find out the are of improvement and the area where they function the best through this analysis. This article will explain the SWOT analysis meaning along with examples and purpose.
What is a SWOT Analysis?
SWOT matrix was developed by Albert Humphery in the early ’60s. SWOT stands for Strength, Weakness, Opportunity, and Threat. This means that a person by using SWOT Analysis can assess these 4 aspects of anything be it a business. One can use this as an advantage to their firm by knowing where they lack and how to avoid failures.
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