SWOT analysis contributes to competitive strategy by helping businesses identify their Strengths, Weaknesses, Opportunities, and Threats. This analysis provides a clear picture of the current state of the business and the competitive landscape. Strengths and weaknesses are internal factors that can be controlled by the company, while opportunities and threats are external factors that are usually out of the company's control. By understanding these elements, a company can formulate strategies that leverage its strengths, mitigate its weaknesses, exploit opportunities, and defend against threats, thereby gaining a competitive edge.
Do you feel trapped to outdo competitors? Better strategies can build a stronger defense against com...
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