The SWOT Analysis Model is a business tool dedicated to assess a company's internal and external environments. SWOT stands for strengths, weaknesses, opportunities and threats. It helps companies understand their strengths and weaknesses and assess their external opportunities and threats. Strengths and weaknesses can be related to elements such as reputation, company culture, employees and assets. While Opportunities and threats are elements such as the competition, the economy or funding. The SWOT analysis is recommended to new and old businesses and is an important part of the business plan.
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