Which statement best describes how a S$.$WO$.$T$.$ analysis should be utilized?

A company only needs to perform a S$.$W$.$O$.$T$.$ analysis when it's a new business.

A company should perform a S$.$W$.$O$.$T$.$ analysis if it only sells products online.

A company should evaluate Strengths, Weaknesses, Opportunities, and Threats for themselves and competitors.

A company does not need to perform a S$.$W$.$O$.$T$.$ analysis if it doesn't have any direct competition.