What is one of the key components identified in SWOT analysis?

One of the key components identified in SWOT analysis is pinpointing the company's competitive assets and liabilities. In SWOT analysis, "Strengths" and "Weaknesses" represent the internal factors that influence an organization's ability to compete. Strengths highlight what the company does well or unique characteristics that give it an edge over competitors, such as valuable resources, strong brand reputation, or effective processes. Meanwhile, weaknesses indicate areas where the company struggles or lacks capabilities, which could hinder its performance.

By analyzing these internal attributes, businesses can leverage their strengths to capitalize on opportunities and mitigate risks associated with their weaknesses, ultimately enhancing their competitiveness in the marketplace. Therefore, understanding a company's competitive assets and liabilities is vital for strategic planning and decision-making.