What is a SWOT Analysis?
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. A SWOT Analysis is a technique for assessing these four aspects of your business.
You can use SWOT Analysis to make the most of what you've got, to your organisation's best advantage. You can reduce the chances of failure, by understanding what you're lacking, and eliminating hazards that would otherwise catch you unawares.
Better still, you can start to craft a strategy that distinguishes you from your competitors, so that you are able to compete successfully in your market.
In today's episode Stacey explores how to create a SWOT Analysis. Identify your strengths, consider your weaknesses, claim opportunities, and anticipate threats.
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