Click here to read chapter 3

SWOT analysis is a tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats of a business. This could include assessing the internal and external environment of the business and identifying key areas of focus and potential risks. As "Strengths" and "Weaknesses" are considered internal factors, as the can be changed by yourself. "Opportunities" and "Threats" on the other hand are considered external factors as these are events that are somewhat out of your control, but that you could use to your advantage or have to reckon with/monitor to avoid damage to your business.