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Every business owner shares at least one identical objective: To succeed. One way to ensure your business is on the right path to success is to conduct a SWOT analysis on your business. SWOT which is short for Strengths, Weaknesses, Opportunities, and Threats is an effective way of identifying your business's strengths, weaknesses, opportunities and threats. Conducting a SWOT analysis is common in business; even individuals who want to evaluate where they are in their careers often conduct a SWOT analysis. Businesses often use the SWOT analysis to help map out their business plan or marketing plan.
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