SWOT analysis can be defined as an important method of strategic planning that is used by many organisations to analyze as well as evaluate their strengths, weaknesses, opportunities and threats (Hitt et al., 2012). There is no doubt about the fact that SWOT is not only a powerful but also a most widely used tool that help organisations analyse their business environment and conduct audit of their strategic position. It is important to know that strengths and weaknesses are recognized as internal factors and used to evaluate internal potential of the business