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Title: Components of SWOT analysis and their importance in strategic planning Students name: School: Components of SWOT analysis and their importance in strategic planning SWOT analysis is a strategic management tool that an organization uses to study its internal and external environment. It is a powerful tool as it helps a company to know its weaknesses and strengths as well as opportunities and threats. Areas of the analysis S-strengths These are the core competences of a business that it possesses in comparison to its competitors. They are the resources within the control of the management, and may include competent employees and advanced technology. W-weaknesses These are the factors that hinder a company from development. They form the internal environment and the management can do something to improve them. O-opportunities These are advantages that the business has no control over. They form part of the external environment. T-threats These are advantages that...
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