A SWOT Analysis is important because it provides a comprehensive view of an organization's situation, and helps organizations identify their strengths and weaknesses, and opportunities and threats. By conducting a SWOT analysis, organizations can:

• Gain a better understanding of their internal and external environment

• Identify their strengths and weaknesses

• Identify opportunities and threats

• Develop strategies that leverage their strengths, overcome their weaknesses, take advantage of opportunities, and avoid or mitigate threats

For more information on the SWOT Analysis tool, check out my “SWOT Analysis: Understanding Your Strengths, Weaknesses, Opportunities, and Threats” article.