Get a solid perspective on that investment you’re considering.
© YinYang—iStock/Getty Images
When embarking on a new business initiative—a merger, joint venture, or new product line, for example—many companies begin with a classic strategic planning tool called SWOT analysis. An acronym for strengths, weaknesses, opportunities, and threats, SWOT is designed to help companies gain a comprehensive understanding of the competitive environment, taking into account all the positives, negatives, and hypotheticals, both internally and externally.
Let’s take a look at each of its four components.
Strengths
Strengths are internal attributes that can positively contribute to a company’s growth. Typically, strengths include various tangible…
