SWOT Analysis Has Many Uses And Purpose

SWOT analysis has many uses and purposes.
It gives a good picture of the firm's actual position in the marketplace
It is a good training tool for staff and may help create a team environment.
It helps develop a better understanding of the firm's service level, product range and brands
It forces the firm to examine its business and consider the present and future competition.
It examines external influences and future changes
It encourages an assessment of strategic opportunities, such as expansion or relocation
Why use SWOT analysis?
A SWOT analysis can support effective strategic planning based on an examination of the firm's capabilities and its external environment. A SWOT analysis is a business tool which allows the assessment of a product, division or organisation in terms of its strengths, weaknesses, opportunities and threats. Its simple four box format makes it a useful visual tool to assist the planning process