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Investigating key business pressures SWOT Analysis Once a business has discovered which market it is in, identified its main competitors and predicted the competitors probable future developments, it will then need to focus on itself. It will need to look at its own position in the market and how future changes will affect it. This will help show the key areas for development or improvement that will be needed in the future. To do this we use what is called a SWOT analysis SWOT stands for * Strengths * Weaknesses * Opportunities * Threats Strengths and weaknesses are related to internal factors such as the product/service itself, Opportunities and threats are related to external factors such as the competition and actions taken by the competition. The aim is to compare the strengths and weaknesses of the business to the external factors that are putting pressure on the business to decide whether the business will be stable enough...

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