The SWOT tool contains paramount information about the industry and helps the executives of the business make decisions that are necessary for the business’s survival and success.
Strength is considered as a positive internal characteristic of an organization, whether intangible or tangible. It is that attribute that is within the control of the business organization. A business that uses an effective SWOT analysis must know its strengths. Such knowledge is obtained through the business determining what it does exceptionally well and the resources the business owns. For instance, strength can be skills and reputation of workers, assets of the firm, the advantages that the firm enjoys over its competitors, and the general attributes that extend competitive advantage to the firm.
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[tags: BCBG Fashion Swot Analysis Economics]
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SWOT analysis is a vital strategy applied in an effort to realize Strengths, Opportunities, Weaknesses and Threats of either an organization or individual. In the business context, this strategy enables a business to discover its strong and weak points, thus enabling it to survive both the internal and external forces. Therefore, this research examines the meaning and further, elaborates its basic components as applied in the analysis of enterprise.
Strategic planning tool used to build aa swot is the relevant.
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