Giving your company a competitive advantage requires ongoing assessment and strategic planning. One way to evaluate your company's performance is through SWOT analysis. A SWOT analysis includes gathering accurate, fact-based data that gives you an overview of your company's strengths, weaknesses, opportunities, and threats, that affect your business performance.
A SWOT analysis is definitive because it’s based on actual data and not conjecture. For this reason, you should use a SWOT analysis as a guide for refining your current strategy or adopting a new approach. Let’s dive in and take a look at how to conduct a SWOT analysis and how you can leverage it for your business.