It is the act of, state or right of possessing something.

These factors are normally beyond your control as an entrepreneur.

It is an organized way of analyzing one's abilities and areas of weaknesses.

These are the advantages or things that make your business stronger.

These are positive and favorable factors in the environment, which you should take advantage of or which can make a project idea potentially viable or feasible.

These refer to the areas in which your business does not perform well or could stand improvement.

This refers to the personnel who will help your business in the long run.

It is often used to describe services where there is no tangible product that the customer can purchase that can be tasted or touched.