ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -SWOT analysis is a framework for identifying and analyzing an organization’s strengths, weaknesses, opportunities and threats. These words make up the SWOT acronym. The primary goal of SWOT analysis is to increase awareness of the factors that go into making a business decision or establishing a business strategy.

Detailed explanation-2: -SWOT (strengths, weaknesses, opportunities, and threats) analysis is a method for identifying and analyzing internal strengths and weaknesses and external opportunities and threats that shape current and future operations and help develop strategic goals. SWOT analyses are not limited to companies.

Detailed explanation-3: -SWOT stands for Strengths, Weaknesses, Opportunities, and Threats, and so a SWOT analysis is a technique for assessing these four aspects of your business.

Detailed explanation-4: -A SWOT-which stands for strengths, weaknesses, opportunities and threats-is a useful technique for understanding your internal strengths and weaknesses, and for identifying external opportunities and threats your organisation faces.

Detailed explanation-5: -Strengths: what do you do well? What do other people see as your strengths? Weaknesses: what areas need development? What should you avoid? Opportunities: what possibilities are open to you? What resources do you have? Threats: what might cause you difficulties? What responsibilities do you have?