Understanding SWOT Analysis: Leveraging Strengths, Addressing Weaknesses, and Identifying Opportunities and Threats

The video discusses the importance of identifying and strengthening weak components in a business to ensure overall success. It introduces SWOT analysis as a tool to evaluate strengths, weaknesses, opportunities, and threats. The video emphasizes the need for businesses to capitalize on strengths, address weaknesses, and be aware of external opportunities and threats to maintain a competitive edge.

Discuss the external factors that can present opportunities for a business.

What are the potential threats a business might face in the market?

How can a business minimize the probability of threats affecting its strategy?