A SWOT analysis will help you identify areas of your business that are performing well. These areas are your critical success factors and they give your business its competitive advantage. Identifying these strengths can help you make sure you maintain them so you don't lose your competitive advantage.

Why is it important to use SWOT analysis?

SWOT Analysis enables you to identify your organization's Strengths and Weaknesses, possible Opportunities and potential Threats. It helps you to build on what you do well, address what you're lacking, and minimize risks. Use a SWOT Analysis to assess your organization's position before you decide on any new strategy.

What is the main objective of SWOT analysis?

SWOT analysis is a framework for identifying and analyzing an organization's strengths, weaknesses, opportunities and threats -- which is what makes up the SWOT acronym. The primary goal of SWOT analysis is to aid organizations in increasing awareness of the factors in making a business decision.