An important step in situational analysis, which access your company’s strengths, weaknesses, opportunities, and threats, is known as SWOT analysis.
Strategic situation analysis is divided into two types “Internal analysis” (strengths and weaknesses) and “external analysis” (opportunities and threats). Internal analyses are those factors that are internal to the organization; you can easily control these factors, while external factors are the factors that are outside the organization and affecting your business directly or indirectly.
SWOT analysis is used to analyze: Attributes of the company that are helpful to accomplishing the goals and objectives, attributes of the company that are harmful in achieving the goals, external environment that is useful in accomplishing your company’s goals and objectives and upcoming external condition, which are harmful in achieving your goals and objectives. SWOT analysis is a powerful tool that helps investors to judge, whether, the company is capable enough to achieve different objectives or not. While writing SWOT analysis makes sure, the data you are writing must contain relevant material.