SWOT Flashcards
1
Q
What is SWOT?
A
An analysis of a business’ internal strengths and weaknesses and its external opportunities and threats
2
Q
Why is a SWOT analysis carried out?
A
Provides a structure for assessing performance
Informs decision making by showing how the business can adapt for the future
Compare with competitors
3
Q
Disadvantages of SWOT?
A
Bias
Could change quickly
Doesn’t make decisions for you
Requires skilled staff to carry out
4
Q
SWOT of hotel chocolat?
A
S - New products e.g., velvetizer, easily accessible and is ethical, niche market
W- Luxury only, not working overseas?
O- raising capital, raise price as faitrade, extension strategies
T- COVID, cost of living, climate change, international business copying model abroad
