3 SWOT analysis

Question 1

Define SWOT analysis

Answer 1

an analysis of the internal strengths and weaknesses of the business, and the opportunities and threats presented in its external environment.

Question 2

Define flotation

Answer 2

the sale of a company’s share to the public for the first time, traded on a stock market.

Question 3

Define audit

Answer 3

a check or review that makes sure a company’s financial resources are accurate and follow the rules.

Question 4

Define external audit

Answer 4

an analysis of the environment in which the business operates in, in which it has no control over.

Question 5

Define internal audit

Answer 5

an analysis of the business itself and how it operates.

Question 6

Define strategic planning

Answer 6

a process which involves making the vision for the future of a business easier to understand and identifies the goals that need to be achieved.

Question 7

Define trade association

Answer 7

an organisation whose members are all involved in the same industry and pursues the interests of these businesses.