Describe the acronyms found in SWOT analysis. (4 marks)
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1. S - Strengths: These are internal factors that give a company a competitive advantage, such as a strong brand reputation or unique product offerings.
2. W - Weaknesses: These are internal factors that hinder a company's performance, such as poor management or outdated technology.
3. O - Opportunities: These are external factors that could positively impact a company, such as a growing market or new partnerships.
4. T - Threats: These are external factors that could negatively impact a company, such as increased competition or changing regulations.