BMT 1 SWOT

Question 1

Parts of SWOT

Answer 1

S - Strengths
W - Weaknesses
O - Opportunities
T - Threats

Question 2

Strengths

Answer 2

• Current Internal things
• which are good about the business
• they already exist
• they are about the business (internal)

examples
* high market share
* low employee turnover
* good relationship w suppliers

Question 3

Opportunities

Answer 3

• Possible future changes in external environment
• that create possibilities for future development

examples
* higher economic growth
* consumer trends change in our favor
* new government subsidies

Question 4

Weaknesses

Answer 4

• Current internal things
• which are bad about the business
• they already exist
• are about the business (internal)

examples
* poor recent press
* high labour turnover

Question 5

Threats

Answer 5

• possible future changes in external environment
• that may hinder future development

examples
* recession
* new firms enter the market

Question 6

Pros of SWOT

Answer 6

• quick and easy
• good starting point to formulate strategies
• can see the organisations position in the market

Question 7

Cons of SWOT

Answer 7

• simplistic
• just a starting point
• requires objectivity with weaknesses