1. Exhibit an understanding of the key dynamic forces impacting on business and society.

 

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Strengths and weaknesses

Strengths and weaknesses are the internal factors that affect an organization. Before figuring out the strengths and weaknesses, decide on the objective and goal you want to accomplish. Since the strengths and weaknesses are dependent on the objective, it might be possible the strength of an objective might turn into a weakness of another objective. The organization has the control over both strengths and weaknesses. The objective an organization is trying to achieve depends

Opportunities and threats

When you talk opportunities and threats, both of them are the external factors. Opportunities and threats are a part of the outside surroundings — it consists of elements that affect the goal or assignment from outdoor the company. This can consist of economics, technology, law and legislation, sociocultural adjustments and shifts in competition.

Opportunities are elements outdoor the company that the commercial enterprise can take benefit of to attain commercial enterprise desires and pass the commercial enterprise forward. Threats consist of something within the outside surroundings that could purpose troubles for a assignment or that pose a destiny hazard to the company’s success.

Benefits of SWOT analysis

The SWOT Analysis is so easy in its composition that it may be carried out to any employer in any industry. It also can be used amongst a extensive variety of conditions and strategic initiatives.

Can Be Applied to Any Company and Situation

The SWOT Analysis is so easy in its composition that it may be carried out to any employer in any industry. It also can be used amongst a extensive variety of conditions and strategic initiatives.

One Tool Can Tell Four Stories

While different assessment equipment might also additionally most effective be capable of investigate one state of affairs at a time, the SWOT procedure can inform a employer 4 matters at one time. This way leaders may have 4 complete discussions approximately pertinent problems to the employer at one time.

Comprehensive Data Integration

There is lots of labor required in developing a SWOT Analysis, and leaders can enjoy the mixture of quantitative and qualitative information. Having this information to be had can enhance planning, growth communication, and in the end result in higher decision-making.

Low Cost

Leaders do now no longer want an steeply-priced piece of software program or representative to are available to manual them thru the procedure. All leaders want is a spreadsheet and time to fill out a SWOT Analysis.