Definition of SWOT Analysis SWOT analysis is one of the most popular

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You can evaluate the business opportunities using this method both before opening and after quite a long period of work. In general, it is advisable to conduct a SWOT analysis regularly to see the level of development and growth areas. In order for this tool to work effectively, it is important to know its features and pitfalls. In our article, we will tell you what SWOT analysis is, how to apply it to a beauty salon, and what mistakes should be avoided during the analysis.


methods of company analysis. It helps to determine the overall strengths and weaknesses twitter database of the business, threats and opportunities that affect it. The abbreviation SWOT stands for: S (strengths) – strengths . These include those parameters of the company that distinguish it favorably in the market. These may be lower prices, highly effective advertising, etc. W (weaknesses) – weaknesses . Qualities that make a company worse than its competitors.


For example, a small number of personnel, or low quality of service in its field. O (opportunities) – possibilities . Factors that can have a beneficial effect on the company’s prosperity. This could be a conveniently located retail outlet. T (threats) – threats . Obstacles that negatively affect business development. For example, a large number of competitors in your niche. The term “SWOT analysis” was first used by Kenneth Andrews, a US academic, at Harvard University in 1963 at a symposium on business policy processes.