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SWOT analysis is a strategic planning technique that helps businesses identify their strengths, weaknesses, opportunities, and threats. It involves an assessment of internal and external factors that affect the success of a business. The strengths and weaknesses refer to the internal factors, while opportunities and threats refer to external factors, which could be in the form of competition, market changes, or technological advancements. SWOT analysis helps businesses gain insights into their current position, make informed decisions, and create an action plan for growth and improvement.
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