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Strengths, Weaknesses, Opportunities, Threats (SWOT) Analysis is a well-known method for describing a business or business propositions in terms of those factors that can have the maximum impact. The business owner does this analysis in order to improve the current position of the business. The Strengths and Weaknesses of the business are considered to be the internal aspects of a business, such as the quality of the product or the managerial skills. Whereas the Opportunities and Threats are the external factors, like the development of a completely new market or the arrival of new competitors.
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