3.1.3- SWOT analysis Flashcards
1
Q
What is Swot analysis
A
An analysis of the internal strengths and weaknesses of the business and the opportunity’s and threats presented by its external environment
2
Q
What does Swot stand for?
A
Strengths
Weaknesses
opportunity’s
treats
3
Q
What does external audit mean?
A
An audit of the external environment in which a business finds itself
4
Q
What does internal audit mean?
A
An analysis of the business itself and how it operates
5
Q
What are the cons of SWOT?
A
- costly to do it
- owners may not be experienced completing one
