A SWOT Analysis is a powerful tool for comparing business options. It involves evaluating the Strengths, Weaknesses, Opportunities, and Threats related to each option.
- Strengths: What are the internal advantages of the option? - Weaknesses: What are the internal disadvantages? - Opportunities: What external opportunities can the option leverage? - Threats: What external threats could impact the option?
By systematically analyzing these factors, businesses can make more informed comparisons.