What is SWOT in business? When do you need to analysis these?

SWOT analysis is a strategic framework used to evaluate the strenghts, weaknesses, opportunities and threats in relation to a business. SWOT analysis can be conducted periodically to evaluate any business at a holistic level. It can also be conducted for individual projects.

SWOT in business or in any area would be the Strengths, Weaknesses, Opportunities and Threats lying around it. This is necessary in every business to identify where we stand so that we can be prepared and have a plan to overcome negative situations.

I agree with Sami and Anjana's answers.