Both the strengths and weaknesses are internal factors which a firm can control. For instance, firm's strengths may include its reputation and strong financial status whereas the weaknesses may include poor location and inadequate human resources. A firm's threats and opportunities are external factors and this means a firm does not have control over them. For example, a firms opportunities may include presence of few competitors while threats may include high interest rates.
SWOT (Strength Weakeness Opportunities Threats) the weaknesses are the items within a business that makes that business vunarable to potential failure. A SWOT analysis is a way to identify not just the weaknesses and mitigate them, but also recognize the Strengths, Opportunities and the Threats to the business.
