3.1.3 SWOT analysis

Question 1

what is SWOT analysis?

Answer 1

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

Question 2

what does SW represent?

Answer 2

internal

Question 3

what does OT represent?

Answer 3

external

Question 4

what does assessing strengths and weaknesses mean for a business?

Answer 4

-competitive advantage
-role for bench marking
-key performance indicator

Question 5

what is the evidence of assessing strengths and weaknesses?

Answer 5

-market share
-profitability
-efficiency
-brand recognition & loyalty
-market capitalisation -> (value & growth)
-reputation for quality

Question 6

what is the evaluation of SWOT analysis?

Answer 6

-is the judgement made reliable? -> (independent)
-how sustainable are the strengths?
-can weaknesses be overcome?
(if so, how?)

Question 7

what does assessing opportunities and threats mean for a business?

Answer 7

-how to take advantage of opportunities
-how to protect against
-love of rise management and contingency planning

Question 8

what are strengths of SWOT analysis?

Answer 8

-logical structure
-focuses on strategic issues

Question 9

what are weaknesses of SWOT analysis?

Answer 9

-too often lacks focus
-can become out of date