One method of strategic planning is SWOT analysis. SWOT analysis is categorized in two parts; external and internal factors. Internal factors comprise of the Strength and Weaknesses, while external factors are made up by Opportunities and Threats; yes, this is where “SWOT” comes from. In easy terms, a SWOT analysis refers to point the objective of a business enterprise, or a project, and classify the several different factors that compliment and criticize that particular business enterprise and their objective.
Once the SWOT analysis of a company is completed, it tells the company what it should do to deal with the proposed threats and achieve the company objectives. All the results of a SWOT analysis need to be presented in a proper format.
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