Which factors are considered internal in a SWOT analysis?

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Study for the Texas AandM University MKTG321 Exam. Prepare with flashcards and multiple-choice questions, each question has hints and explanations. Get ready for success!

In a SWOT analysis, strengths and weaknesses are classified as internal factors because they originate from within the organization itself. Strengths refer to the positive attributes and resources that an organization possesses, such as strong brand reputation, skilled workforce, or proprietary technology. These are aspects that can be leveraged to gain a competitive advantage in the market.

Weaknesses, on the other hand, are the internal attributes that may hinder an organization's performance or ability to compete effectively, such as lack of resources, gaps in capabilities, or poor location. By identifying and understanding these internal factors, organizations can develop strategies that take advantage of strengths while addressing weaknesses.

The other options refer to external factors in the SWOT analysis. Opportunities and threats arise from the external environment and affect the organization's performance but are not within its control. Economic and political factors, as well as legal and technological elements, also represent external influences that can impact an organization's strategy and operations, rather than internal dynamics.