Question

Discuss the need of SWOT analysis for a new business enterprise.

Answer 1

S.W.O.T Analysis or sometimes called the S.W.O.T Matrix is a structured planning method used to evaluate the strengths, weaknesses, opportunities and threats involved in a project or in a business venture. ... It also enables businesses to identify internal and external factors needed to achieve the goal

Answer 2

Answer:

Production or Procurement of Goods and Services: Business exists to satisfy the wants of the consumers. Thus, every business enterprise either manufactures the goods (pen, textbook, furniture, etc.) or acquires them from producers, to be further sold to consumers or users.