Final answer:
SWOT analysis is crucial for businesses to understand their internal and external factors, enabling them to develop effective strategies.
Explanation:
SWOT analysis is important in business as it helps companies identify their internal strengths and weaknesses, and external opportunities and threats. By conducting a SWOT analysis, businesses can develop strategies to capitalize on their strengths, improve weaknesses, seize opportunities, and mitigate threats to achieve their objectives.
Learn more about Importance of SWOT analysis in business here:
https://brainly.com/question/36536760
