Evaluate the role of SWOT analysis in assessing external business environments. How does it support decision-making?
Answer (1)
SWOT Analysis SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. It helps a business understand what it does well (strengths), what it lacks (weaknesses), what chances it can take (opportunities), and what challenges it faces (threats).How it helps decision-makingHelps businesses plan for future actionsIdentifies areas where a business needs improvementHelps leaders focus on opportunities in the marketHelps avoid risks or reduce the effects of threatsSupports smart and strategic choices
