What is SWOT Analysis? Why it's Important?

What is SWOT Analysis and Why it is Important for Business?

SWOT analysis is a technique used to guide decision-making and determine the pros and cons of an organization. SWOT stands for Strength, Weakness, Opportunities, and Treats. It is an insight into the four areas of an organization. Import-export classes online will teach you the ways of analyzing SWOT and learn export import with import-export training in India to give a fresh start to your business. The SWOT analysis shows where the company is, where it will be shortly, and what it Plans. It helps to reduce risk for the company. It is a technique that helps an organization to make a goal and grow its business. Import and export courses online will help you understand how SWOT is beneficial for you and your business.

SWOT is further divided into two parts-

1 Strength and Weakness-

There are internal factors affecting strength and weakness in a company- things over which you have control, for instance, what you provide that others do not, or what to be improved within your organization.

2 Opportunities and Threats-

The Opportunities and Threats are influenced by external factors of the company- things that happen in the market outside of your control, so you have to deal with them anyway. SWOT analysis not only helps an organization to run smoothly but also helps individuals to manage their lives in general.  

Strength– Strengths of your company are excellent interpersonal skills, handling customers, financial resources, team strength, and quality of the product or services. Weakness- It can be a lack of funding, low technical skills, customer churn, or production overhead. Opportunities- Attract a larger target market, keeping customer satisfaction high, after-sales assisting customers, and increasing market share. Threats- Big competitors, customers taking time, cost & investments, mismanagement in supply chain, market requirements.

Additional Points-

  • The SWOT analysis is most effective when diverse groups of employees within an organization are encouraged to provide realistic data rather than prescriptive messages.
  • SWOT analysis has the primary purpose of assisting organizations in understanding the factors influencing business decisions.
  • SWOT analyses are most commonly carried out by business entities, however non-profit organizations, as well as individuals may use them to assess their situation.
  • Find the objective of your SWOT analysis. Do market and industry research to grow your business.
  • List down all your strengths, weaknesses, opportunities, and threats so that you can work effectively on it.
  • SWOT analysis is equal to brainstorming meetings, and there are many ways to run them whether it be right or wrong. Let everyone speak their heart, who knows if someone else has a great idea with a new thought.
  • You can still do a SWOT analysis if you run a business on your own. Seek additional opinions from friends who know your business, from your accountant, or even from vendors and supplies. It is important to have several viewpoints.


Following an analysis of all four SWOT elements, you’ll want to build on your strengths, improve on your weaknesses, address any threats, and take advantage of any opportunities. You’ll likely find yourself with a lengthy list of possible actions. Export import business training will provide you with insight and knowledge of how SWOT works. Join a free webinar on Digital Exim and learn how you run your business smoothly. https://chat.whatsapp.com/Bqz4SWH55nSGtKj3GnJAC8Do give us a visit!

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