What do you understand by SWOT analysis? Explain various criteria used to classify an element into strengths and weaknesses.
SWOT analysis is a strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats of an organization or a project. It helps managers assess both the internal and external factors that can influence the organization's ability to achieve its objectives. The SWOT framework is often used in decision-making, setting goals, and creating strategies for growth and improvement. The analysis divides the factors into two categories: internal (strengths and weaknesses) and external (opportunities and threats).
The primary objective of a SWOT analysis is to identify and leverage an organization's strengths while addressing or mitigating its weaknesses. At the same time, it helps managers spot opportunities in the _____ _______ _________ _______ ________ _______ ___ ________ _______.
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