3.1.3 swot analysis

Question 1

swot concept links

Answer 1

PESTLE model
competitive advantage
competitiveness
benchmarking and KPIs
strategic choice

Question 2

define swot analysis

Answer 2

helps a business assess its competitive strength and the nature of its external environment

Question 3

what does swot stand for

Answer 3

strengths
weaknesses
opportunities
threats

Question 4

swot strengths

Answer 4

internal factors within a business that can help it achieve it objectives

Question 5

swot weaknesses

Answer 5

internal factors that could prevent a business from achieving its objectives

Question 6

swot opportunities

Answer 6

external business circumstances that can help it achieve its objectives

Question 7

swot threats

Answer 7

external problems that may prevent a business from achieving its objectives

Question 8

benefits of swot

Answer 8

a useful tool
assists strategic thinking in a structural way
it is a low cost and simple approach

Question 9

limitations of swot

Answer 9

subjective and often the main issue with struggling companies to identify the real problems
concept is based on management opinions
managers may not be critically honest
might identify problems but no solutions