<P> SWOT analysis (or SWOT matrix) is a strategic planning technique used to help a person or organization identify the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning . It is intended to specify the objectives of the business venture or project and identify the internal and external factors that are favorable and unfavorable to achieving those objectives . Users of a SWOT analysis often ask and answer questions to generate meaningful information for each category to make the tool useful and identify their competitive advantage . </P> <P> Strengths and Weakness are frequently internally - related, while Opportunities and Threats commonly focus on environmental placement . </P> <Ul> <Li> Strengths: characteristics of the business or project that give it an advantage over others . </Li> <Li> Weaknesses: characteristics of the business that place the business or project at a disadvantage relative to others . </Li> <Li> Opportunities: elements in the environment that the business or project could exploit to its advantage . </Li> <Li> Threats: elements in the environment that could cause trouble for the business or project . </Li> </Ul> <Li> Strengths: characteristics of the business or project that give it an advantage over others . </Li>

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