Importance of Swot Analysis.

SWOT analysis is quite significantly important in my opinion because it help us to review or evaluate to determine that our idea or product is eligible to get success in market or not. It helps us to know about the Strengths, Weakness, Opportunities and Threats of our idea, product, service or about our whole firm or brand. It is important because it gives analysis about both internal and external factors. It helps us to know what we do well, to address what we are lacking, to minimize risks, and to take the greatest possible advantage of chances for success. It helps us to maintain and maximize our strengths, focus on our weaknesses to over come them, avail the opportunities and consider threats before they can put negative impact on the brand. It helps us to make strategies and do evaluation.