What is the purpose of the SWOT analysis? What types of information does this analysis provide?
The purpose of SWAT or Strength, Weaknesses, Opportunities and Threats analysis is to assess the current standing of a business in relation to its competitors and look for the possible future opportunities and the factors that would help achieve future success. SWOT provides necessary information about the different areas that the company has a strengths in. It also provides information about areas that need improvements. Future and present opportunities may also be assessed with a SWOT analysis. If there are any risks and threats, SWOT analysis would shed necessary light on them.