Learning Aim B

Question 1

What does the ‘S’ in SWOT stand for?

Answer 1

Strengths

Question 2

What does the ‘W’ in SWOT stand for?

Answer 2

Weaknesses

Question 3

What does the ‘O’ in SWOT stand for?

Answer 3

Opportunities

Question 4

What does the ‘T’ in SWOT stand for?

Answer 4

Threats

Question 5

What does Strengths mean from a SWOT analysis?

Answer 5

What does the business offer than is unique

Question 6

What does Weaknesses mean from a SWOT analysis?

Answer 6

What does a business require in order to be successful

Question 7

What does Opportunities mean from a SWOT analysis?

Answer 7

Is there a potential new market available

Question 8

What does Threats mean from a SWOT analysis?

Answer 8

Is there a competition, pricing likely to have a significant impact

Question 9

What does ‘PESTLE’ stand for?

Answer 9

Political, Economical, Social, Technological, Legal, Environmental

Question 10

What does Political mean from a PESTLE analysis?

Answer 10

Takes into account the political situations in the host country, e.g. the host country actively encouraging sport and active leisure

Question 11

What does Economical mean from a PESTLE analysis?

Answer 11

Components of an economy and their likely impact on a business. E.g. inflation rates, interest rates and foreign exchange rates. Is the economy booming? Is it in a recession?

Question 12

What does Social mean from a PESTLE analysis?

Answer 12

Each nation has a particular culture, demographic or approach to business. This culture can affect how a business services are offered. Social also takes into account trends in sports and how they increase/decrease in popularity.