2.1 Business Needs Analysis - SWOT Analysis

Question 1

What are the elements of SWOT?

Answer 1

Strengths
Weaknesses
Opportunities
Threats

Question 2

Give examples of the S element of SWOT

Answer 2

Things your company does well
Qualities that separate you from your competitors
Internal resources such as skilled, knowledgeable staff
Tangible assets such as intellectual property, capital, and proprietary changes

Question 3

Give examples of the W element of SWOT

Answer 3

Things your company lacks
Things your competitors do better than you
Resource limitations
Unclear unique selling proposition

Question 4

Give examples of the O element of SWOT

Answer 4

Undeserved markets for specific products
Few competitors in your area
Emerging need for your products or services
Press / media coverage of your company

Question 5

Give examples of the T element of SWOT

Answer 5

Emerging competitors
Changing regulatory environment
Negative press / media coverage
Changing customer attitudes toward your company