In any Business Environment it becomes very essential to take scheme of things before u venture into certain Business related projects.
One has to keep in mind Various things that cud affect business in various ways and hence it becomes essential to do Survey of certain things before u start a business project.
SWOT Analysis is an important tool in Business Analysis before execution and after execution of any project.
SWOT Analysis helps a business organisation to Analyze the feasibilty of the project/business that needs to be carried out.
The word SWOT stands as :
S stands for Strength
W for Weakness
O for Opportunities
T for Threats
Each of these are self explanatory and are widely used in Business Analysis.
Before starting any Project, Companies Use this Analysis for studying their Business Model and check the projects feasibility and Profitability .
A SWOT analysis is also widely carried out for Market Research Purpose and is very effective medium to check feasibilty and visibility of a product in the Market.
SWOT analysis is a very important part of Project Management and Market Research.
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