3.1.3 SWOT analysis

Question 1

SWOT

Answer 1

strength 
weakness 
(internal)
opportunity 
threat 
(external)

Question 2

Internal

4 examples

Answer 2

KPIs: (key performance indicators)

1. sales
2. MS
3. unit cost
4. CU

Question 3

external

4 examples

Answer 3

1. new laws/regulations
2. economic factors
3. tech factors
4. demography

Question 4

key performance indicator

Answer 4

quantifiable measure aspect of bus performance

considers main determinants of business success

Question 5

top down approach

positives and negatives

Answer 5

external management consultant work with boss

+ve: dispassionate approach, detached from culture
-ve: managers fail to share info

Question 6

consultative approach

positives and negatives

Answer 6

boss travels round business

+ve: insight (range), first hand
-ve: staff less likely to point out bad reflection on leader

Question 7

2 approaches to SWOT

Answer 7

1. top down

2. consultative

Question 8

3 reasons why is a SWOT useful

Answer 8

1. understand business
2. focus on strategic issues
3. develop goals & strategies to achieve them

Question 9

3 limitations of a SWOT

Answer 9

1. doesnt prioritise
2. out of date info
3. too many ideas, best?

Question 10

SWOT analysis

Answer 10

identifies a business strength and weakness along side opportunities and threats