Why is it important to conduct a SWOT analysis? What are the weaknesses of a SWOT analysis? Why is that so?

Table 2.2 Parts of the External Environment Analysis Scanning Monitoring Forecasting Assessing Identifying early signals of environmental changes and trends Detecting meaning through ongoing observations of environmental changes and trends Developing projections of anticipated outcomes based on monitored changes and trends Determining the timing and importance of environmental changes and trends for firms' strategies . . . . and their management