Strategic management analysis

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This is a forum question between students that needs a reply to with at least 150 words. I would like for you to use your own words.

Internal analysis evaluates a companies, strengths, weaknesses, and competitive advantage. A business has to know what they do well and what areas they need to improve in to continue to be successful. Only focusing on strengths leaves room for weaknesses to become unmanageable and can ultimately lead to the demise of a business. Understanding your competitive advantage keeps a business ahead of the competition and enables them to continue to do whatever they do well. Weaknesses have to be acknowledged and managed to prevent significant damage and knowing your advantage will help to build and reinforce strong relationships with business partners and customers. Thoughts?

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