When an organization tries to formally identify its strengths and weaknesses, it conducts a(n) internal analysis.
This is further explained below.
Generally, A SWOT analysis is a strategy used in creating a competitive advantage that may assist an individual or organization in identifying their respective strengths, weaknesses, opportunities, and threats in relation to the planning of a project or commercial rivalry.
The term "situation-specific assessment" or "situational analysis" may also be used interchangeably.
In conclusion, Conducting an internal analysis is the process that a company goes through in order to officially define its own capabilities and limitations.
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