The SWOT Analysis is a strategic management and marketing tool for describing entrepreneurial strengths, weaknesses, opportunities, and threats.
For this purpose, both, the company’s internal factors (strengths and weaknesses) and external factors (risks and opportunities), are analyzed. As a component of a business plan, this analysis is used by the company to leverage its strengths and opportunities as well as minimize weaknesses and threats in order to maintain its competitive image in its industry in the long run.
