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What is the primary purpose of a SWOT analysis?
What is the primary purpose of a SWOT analysis?
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Practice Questions
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What is the primary purpose of a SWOT analysis?
To evaluate financial performance
To assess market trends
To identify strengths, weaknesses, opportunities, and threats
To analyze customer behavior
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A SWOT analysis helps organizations identify their internal strengths and weaknesses, as well as external opportunities and threats.
Questions & Step-by-step Solutions
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Q
Q: What is the primary purpose of a SWOT analysis?
Solution:
A SWOT analysis helps organizations identify their internal strengths and weaknesses, as well as external opportunities and threats.
Steps: 5
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Step 1: Understand that SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.
Step 2: Recognize that the primary purpose of a SWOT analysis is to help organizations assess their current situation.
Step 3: Identify internal factors: Strengths (what the organization does well) and Weaknesses (areas where the organization can improve).
Step 4: Identify external factors: Opportunities (potential areas for growth) and Threats (external challenges the organization may face).
Step 5: Use the information gathered to make informed decisions and strategies for the organization.
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