Use SWOT Analysis For Strategic Planning

SWOT analysis is a strategic planning tool to help a business see its own strengths and weaknesses and do external market analysis by looking at opportunities and threats. The value of doing this internal and external analysis is dependent on the effort put into it by the participants but as a tool it is very simple to use and effective. The key is to continuously repeat the SWOT for each and every part of the business, the competition and market.