What is the primary goal of conducting a SWOT analysis?

The primary goal of conducting a SWOT analysis is to identify strengths, weaknesses, opportunities, and threats. This analytical tool provides a structured approach to assessing both the internal and external factors that can impact an organization. By evaluating strengths and weaknesses, businesses can understand their internal capabilities and limitations. On the other hand, examining opportunities and threats allows them to recognize external factors that could influence their strategy and performance. This comprehensive understanding enables organizations to make informed decisions, capitalize on their strengths, mitigate their weaknesses, seize opportunities, and prepare for potential threats.

Customer feedback, future market trends, and employee satisfaction are important areas for businesses to explore, but they are not the primary focus of a SWOT analysis. Instead, these elements may be considered as part of the broader strategic planning process that utilizes insights gained from a SWOT evaluation.