2016-11-24 00:00:00 Marketing a Business English Worrying about external forces or internal weaknesses? Learn about your market position, weaknesses, and what your business does best in a... https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/10/Small-Business-Team-applying-SWOT-Analysis.jpg https://quickbooks.intuit.com/ca/resources/marketing/small-business-terms-swot-analysis/ Small Business Terms: SWOT Analysis

Small Business Terms: SWOT Analysis

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SWOT analysis is a report generated by a business to evaluate its strengths, weaknesses, opportunities, and threats. The results are used to provide direction, implement strategic planning, and evaluate future financial budgets. In addition, the analysis can be used as a risk mitigation tool as threats can be minimized as weaknesses are addressed.

Strengths and weaknesses are internal components a business must self-evaluate to know. Alternatively, opportunities and threats are external factors. These represent what is occurring in the industry and how the company is relatively positioned. Taken as a whole, a SWOT analysis compares what the company is best at doing with what is available.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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