3.1.3 SWOT analysis

Question 1

What are strengths?

Answer 1

Internal factors within a business that can help it achieve it’s objectives.

Question 2

What are weaknesses?

Answer 2

Internal factors that could prevent a business from achieving it’s objectives.

Question 3

What are opportunities?

Answer 3

External business circumstances that can help it achieve it’s objectives.

Question 4

What are threats?

Answer 4

External problems that may prevent a business from achieving it’s objectives.

Question 5

How can SWOT be used to make strategic decisions?

Answer 5

-Can be used to identify the businesses strengths to maximise opportunities in the market.
-Can be used as a tool to compete snd defend
-Can be used to improve + attack new markets or create new products.
-To identify when to retreat/change.