The last two letters in the S.W.O.T.refer to "opportunities" and "threats" related to factors outside the company,including customers,competition,and the external marketing environment.

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Whereas the first two letters of the S.W.O.T. analysis focus on strengths and weaknesses related to a company's internal resources and capabilities, the last two letters examine "opportunities and threats" outside the firm related to customers, competition, and the external marketing environment.

The Last Two Letters in the S