What is the purpose of conducting a SWOT analysis?

Scanning the business environment and collecting relevant data

The purpose of conducting a SWOT analysis is to identify and analyze the strengths, weaknesses, opportunities and threats of an organization or project. This helps organizations make informed decisions about their future by taking into account both internal and external factors that could impact success or failure. It also provides a comprehensive picture of an organization’s competitive position in order to develop effective strategies for growth.