SWOT

Question 1

What does SWOT stand for?

Answer 1

Strengths
Weaknesses
Opportunities
Threats

Question 2

Strengths

Answer 2

A business will focus on all the positive aspects
of its operations.
Any points made can be expanded

Question 3

Weaknesses

Answer 3

The weak elements must be turned into strengths.
* This aspect of the process can be seen as negative,
but all those involved must be honest in their
responses.
* All businesses are vulnerable, so the team must
identify these vulnerabilities with a view to making
them positive in the future

Question 4

Opportunites

Answer 4

potential in which the business could also be
successful.
Examples include the increased popularity of
the internet, and social trends towards healthy
eating.
Identifying gaps in the market
Seeing the potential is key when identifying
opportunities

Question 5

Threats

Answer 5

focuses on the external factors that a business cannot
usually control
for example, new laws and regulations, changes in
government, market changes and new competition
These elements can be difficult to predict but still
have to be ‘managed’.