Strategy used Worldwide in the Formulation of Business Strategies

 
 
 
 
 
 
 
 
 
 
 
SWOT Analysis
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SWOT Analysis
SWOT analysis is a common strategy used by most companies worldwide in the formulation of business strategies. SWOT analysis is used to check organization progress as well as assessing possible threats that affect its growth. The organization's strengths and weaknesses are internal factors affecting the company. On the other hand, opportunities and threats deal with externals factors bound to the organization.
Most companies use SWOT analysis for many purposes. First, the review is essential because it helps the company to deal with possible risks that might occur within the organization. A threat in SWOT analysis refers to the occurrence of risk outside the firm's premise that could harm overall performance. Often firms face external threats beyond those caused by direct opponents (Jasiulewicz-Kaczmarek, 2016). Risks such as changes in the governing environment and abrupt ...