At your next meeting with the senior management team, you suggest this, and you're met with a lot of blank looks. The managers don't seem to quite understand what a SWOT analysis is.

Question

02-04-2020
Business

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At your next meeting with the senior management team, you suggest this, and you're met with a lot of blank looks. The managers don't seem to quite understand what a SWOT analysis is.

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BenitoMarin BenitoMarin · Answer 1 · 2020-04-02T23:05:28+02:00

Answer and explanation:

Under such a scenario, it is important to highlight that the SWOT analysis is useful to spot the internal Strengths and Weaknesses of the firm as well as the external Opportunities and Threats of the market. The SWOT analysis is a helpful tool that allows companies to understand what their core competencies are as well as the components that need improvement. At the same time, the SWOT analysis gives the firm an idea of what are the sectors of the market that could bring potential profits for the entity and which ones represent potential losses.