Moreover, the right side of the table shows the negative aspects

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Characteristics of SWOT Analysis Knowing the four elements that define a company allows it to access the forces that influence a strategy, action or initiative. Owning these positive and negative elements helps companies communicate more effectively and recognize their position in the market. In the upper part of the SWOT analysis table, the internal factors are indicated, and in the lower part the external ones. Moreover, the right side of the table shows the negative aspects, and the left side the favorable ones. Not all points under a given rubric will be of equal importance, but all should represent key insights into the balance of opportunities and threats. Internal factors Strengths (S) and weaknesses (W) refer to internal factors and represent the resources and experience that the company has at its disposal.



Examples: financial resources (funding, sources of income, investment opportunities); physical Phone Number Data resources (location, equipment); human resources (employees, volunteers, stakeholders); technological resources (applications, software systems,) External factors These factors, most of the time, cannot be controlled by the company and refer to: market trends (new products, technological advances, new consumer needs); local, national and international economic trends; funding or donations; the relationship with suppliers and partners; political regulations. When should a company's SWOT analysis be performed? The SWOT analysis is put into practice when the team is ready to implement the strategy. The data collected in the SWOT analysis will allow the use of strengths, the neutralization of weaknesses, the use of new opportunities and the avoidance of potential threats. SWOT analysis can also be carried out in the case of rebranding or in the case of launching a business. Due to the evolution of technology and the development of the market, the SWOT analysis is done once every few months.





In this way, a picture is created on the effectiveness of the developed strategy and if it needs to be adjusted. How is the SWOT matrix analysis done? Carrying out a correct Swot Analysis involves the following steps: 1. Establishing objectives The SWOT analysis can be broad, comprising several elements. For profitable results, any analysis begins with the establishment of a set of objectives, which allow tracking the evolution of the process and achieving the process. 2. Collection of resources Any SWOT analysis requires access to data to support it or information to which the company has access.