Do you think SWOT Analysis is important in building a business? Why?

In my opinion, I believe that implementing a SWOT Analysis is vital in building a

business. Firstly, it helps an entrepreneur to determine the strengths of his or her
business and use them as his or her guide to make benevolent business objectives and
entice great opportunities as well for the benefit of his or her business. Secondly, it
helps an entrepreneur to highlight the weaknesses that can affect his or her business
and resolve them promptly to minimize further complications for his or her business.
Thirdly, for the benefit of his or her business, it helps an entrepreneur to look for
possible great opportunities that serve as a “bridge” towards development and
enhancement. And lastly, it helps an entrepreneur to anticipate the possible threats that
may occur to possibly impair his or her business and create propitious preparations and
plans against them, which serves as an effective response of his or her business. In
essence, the aforementioned concepts are considered as “pillars” in building a
business. When one of them is neglected, the stability of the business may be possibly
affected.