AI SWOT Analysis
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What is a SWOT Analysis?
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. It is a simple but powerful framework for analyzing your business's internal and external environment. By identifying these four factors, you can build a more robust strategy and better prepare for future challenges.
The Four Elements of SWOT
Internal Factors:
Strengths: What your business does well—your competitive advantages.
Weaknesses: Areas where you need to improve or lack resources.
External Factors:
Opportunities: External possibilities for growth (e.g., market trends).
Threats: External risks that could damage your business (e.g., new competitors).
When to Perform a SWOT Analysis
- Launching a New Project: Evaluate if the idea is viable.
- Annual Strategy Reviews: Check if your business is still on track.
- Responding to Market Changes: Analyze how a new competitor affects you.
- Problem Solving: Identify internal weaknesses that are slowing you down.
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