What is the rationale of performing a SWOT analysis?

Answer 1

A SWOT analysis is performed to identify and evaluate an organization's internal strengths and weaknesses, as well as external opportunities and threats. This strategic planning tool helps businesses understand their competitive position and informs decision-making. By assessing these four elements, organizations can leverage their strengths, address weaknesses, capitalize on opportunities, and mitigate threats, ultimately guiding strategic planning and resource allocation.