SWOT stands for strength, weakness ( internal variable), opportunity and threat ( external variable) of business. SWOT analysis is the important tool for any enterprise to know it's overall performance.
1. SWOT analysis is important to know where the company stand in the competitive market.
2. It help organisation to know its weakness and taking measures to stop the road blocks.
3. Turning threads to opportunities.
4. Use of opportunities in best possible manner as to grow the business and to get maximum profit out of it.
5. Helps to focus on your strength.