SWOT Analysis: A Powerful Tool For Business Decision Making
Source: Associated Content
SWOT analysis is a powerful tool that can help decision makers achieve their goals and objectives. For businesses, this tool can be of great importance. SWOT analysis allows decision makers to bring transparency to the various factors that can affect the achievement of their business goals and objectives. Using the low-level details provided by SWOT analysis, businesses can clearly see what will or will not work for them towards their goals and objectives. SWOT stands for Strength, Weakness, Opportunities and Threats. These four factors are the major players when it comes to business decision making. Each refers to things that may be internal or external to the business, which might have significant impact on achieving goals and objectives.