Internet, or changing consumer lifestyles that potentially increase demand for a company's products. A threat could be a new competitor in an important existing market or a technological change that makes existing products potentially obsolete.
SWOT analysis can be very subjective; two people rarely come-up with the same version of a SWOT analysis even when given the same information about the same business and its environment. Accordingly, SWOT analysis is best used as a guide and not a prescription. Adding and weighting criteria to each factor increases the validity of the analysis.
Some of the key areas to consider when identify and evaluating Strengths, Weaknesses, Opportunities and Threats are listed in the example SWOT analysis below:
8.Conclusion
Effective strategic management is process of external and internal analysis, to identify opportunities and threats. Strategic formulation is done to ensure the fit of the existing resources and capabilities of the company and the environmental opportunities.
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