2023-10-19 00:00:00 SWOT analysis is a widely used strategic tool by companies and individuals to assess and understand the current situation of a business, project, or even an individual. It involves identifying and analyzing the strengths, weaknesses, opportunities, and threats relevant to the situation at hand. There are several reasons why SWOT analysis is widely utilized and valued. Here are some of the key reasons: 1. Self-awareness: SWOT analysis helps individuals and companies gain a clear understanding of their internal strengths and weaknesses. By identifying these internal factors, it becomes possible to better understand areas where they excel and areas that need improvement. This leads to greater self-awareness and enables them to focus on maximizing their strengths and overcoming their weaknesses.