For those who are immersed in the world of business, companies and entrepreneurship, they probably know what SWOT analysis is about, which is the one with which any business strategy begins to be designed, because it allows to analyze the most important points that will affect the project in question. But let’s not get ahead of ourselves, because in what follows we will tell you what the SWOT analysis is for.
What is SWOT Analysis for?
First of all, it is worth noting that it is an analysis that is mainly used to begin to develop a strategy that is what will lead the way forward for the project you are creating.
Swot is a follow, which stands for Strengths, Weaknesses, Opportunities and Threats. Therefore, as its name indicates, it is an analysis that serves to establish the following:
- what are the strengths of the project in the market and the one that differentiates them and makes them unique compared to the competition.
- The opportunities presented by the market that directly favor the project itself
- The weaknesses of the project, which must be identified in order to improve and thus regain a good position in the market
- And the threats that come from both competition and market conditions, which could affect us.
Dr. Samantha Robson ( CRN: 0510146-5) is a nutritionist and website content reviewer related to her area of expertise. With a postgraduate degree in Nutrition from The University of Arizona, she is a specialist in Sports Nutrition from Oxford University and is also a member of the International Society of Sports Nutrition.