SWOT ANALYSIS involves identifying the strengths and weaknesses, which are internal to the organisation and the opportunities and threats, which come from outside the organisation.
Strengths ‘S’
Strengths are those rudiments of the company that are useful and secure. For e.g. Company service that is well acknowledged by the customer
Weaknesses ‘W’
Weaknesses are those rudiments of the organisation that are unstable and insecure. For e.g. Outdated technology or apparatus.
Opportunities ‘O’
Opportunities represent areas where applying fresh proposals or schemes can prove favorable. For e.g. Establishing a brand
Threats ‘T’
Threats can prove dangerous to a company. For e.g. : New laws.