08 - Business Analysis

Question 1

What does SWOT stand for?

Answer 1

Strengths, weaknesses, opportunities & threats

Question 2

What does PESTLE stand for?

Answer 2

Political, Economic, social, technological, Legal and Environmental

Question 3

Give an example of a political factor that might affect a business?

Answer 3

Changes in Government policy, taxation, grants, import and export taxes and duties & public spending

Question 4

Give an example of a economic factor that might affect a business?

Answer 4

Interest rates, exchange rates, disposable income

Question 5

Give an example of a social factor that might affect a business?

Answer 5

Demographics, health-conscious population, changing fashion/trends, unemployment

Question 6

Give an example of a Technological factor that might affect a business?

Answer 6

Changes in technology, new products or processes, speed of obsolescence

Question 7

Give an example of a legal factor that might affect a business?

Answer 7

Employment law, health and safety law, competition law, data protection law

Question 8

Give an example of a Environmental factor that might affect a business?

Answer 8

Climate change and weather, natural disasters, sustainability and corporate responsibility

Question 9

What is an opportunity of a business (SWOT)?

Answer 9

External chances to improve performance

Question 10

What is a threat of a business (SWOT)?

Answer 10

External elements that could cause trouble for the business i.e new legislation or competition