Practice using a SWOT analysis to better understand the factors involved in making business decisions that promote sustainable competitive advantage. 

Week 3 modified swot analysis | STR581 Strategic Planning & Implementation | University of Phoenix

A SWOT analysis is a useful tool for better understanding the factors involved in making business decisions that promote sustainable competitive advantage. This approach involves examining the Strengths, Weaknesses, Opportunities and Threats associated with a particular situation in order to identify areas of improvement or potential risks.

By gaining insights into each of these four categories managers are then able to make informed decisions based on their findings; for instance if a company has identified its strengths as being highly skilled employees and advanced technology they can use this information to better position themselves in the market by leveraging those resources towards creating new products/services that are competitively superior. Alternatively weaknesses such as lack of financial capital can be addressed by developing strategies such as cost-cutting measures or seeking outside investments. Ultimately conducting regular SWOT analyses allows organizations to stay ahead of competition while also uncovering any threats they may face in their industry.