The SWOT analysis full form is Strengths, Weaknesses, Opportunities, and Threats. Companies use this framework to determine their competitive position in the industry and plan strategies according to the results. SWOT analysis looks at the external and internal factors affecting the company. It also looks at the company’s current and future potential. To explain SWOT analysis might be difficult until you try it yourself. SWOT analysis meaning is that it’s basically a useful tool that helps companies facilitate a fact-based, realistic, data-driven way to look at their strengths and weaknesses within an industry. However, during the SWOT analysis, companies need to ignore pre-determined beliefs and grey areas before focusing on real-life situations. In short, the answer to “What is SWOT analysis?” is not difficult. The main aim of a SWOT analysis is to help an organisation gain absolute awareness of all the factors involved in making business decisions. The organisation…