3.12 - SWOT Flashcards
1
Q
Strengths
A
- What is the business Good at
- Is the Product Popular
- Are the Customers Loyal
- Is it in a Solid Financial Position
- Is its Equipment State of The Art.
2
Q
Weaknesses
A
- Are the staff and managers competent
- Is the ICT outdated
- Are current practices the best practice and have there been failures in these areas before.
3
Q
Opportunities
A
- Is there low unemployment and low interest rates as people will spend more, greater profit
- Can we find new markets like overseas that can increase sales and profits.
- Is the ICT best practice to engage with customers. An example would be a website that can customers can easily navigate to that would increase sales.
4
Q
Threats
A
- What are market trends, have we addressed them or will sales be lost. McDonald’s needed to include healtyh items on its menu.
- Are we matching competitors. Like having a Customer App like McDonalds or Sales will be lost.
- If new laws and regulations exist, are we meeting them or could be subject to fines.
