What is SWOT Analysis? 4 Reasons Why SWOT is Important for Business - Video

So, what is SWOT analysis exactly and why should you know about it? SWOT, an acronym for Strengths, Weaknesses, Opportunities, and hreats, is a robust analytical framework. Strengths and weaknesses are considered internal, while opportunities and threats are considered external factors. Wondering why SWOT analysis is crucial for businesses? Watch this enlightening video to discover the top four critical benefits of SWOT analysis. This is particularly important for leaders and those aspiring to leadership roles as it offers insights into how SWOT analysis provides a comprehensive understanding of an organization’s current situation and strategic areas for growth and improvement. 

This video covers:

00:06 – Introduction00:51 – Strengths of a Business01:07 – Weaknesses of a Business01:32 – Opportunities for a Business01:46 – Threats to a Business02:12 – Why SWOT is Important for a Business02:15 – SWOT Helps Businesses in Measuring Performance02:23 – SWOT Helps Businesses Analyze Their Strengths02:30 – SWOT Helps Businesses Understand Their Weaknesses02:38 – SWOT Helps Businesses Make Strategic Plans02:46 – Conclusion

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