SWOT Flashcards
What does SWOT stand for?
Strengths, Weaknesses, Opportunities, Threats
True or False: SWOT analysis is only useful for large corporations.
False
Fill in the blank: A SWOT analysis helps organizations understand their ______ and ______.
internal factors, external factors
What is a key component of the ‘Strengths’ section in a SWOT analysis?
Internal attributes that support achieving objectives
Which section of a SWOT analysis identifies areas where an organization may be at a disadvantage?
Weaknesses
Multiple Choice: Which of the following is an example of an opportunity in a SWOT analysis? A) High employee turnover B) Emerging market trends C) Outdated technology
B) Emerging market trends
What type of factors does the ‘Threats’ section of SWOT analysis consider?
External challenges that could harm the organization
True or False: A SWOT analysis can only be conducted once a year.
False
What is the primary purpose of conducting a SWOT analysis?
To identify strategic planning opportunities and challenges
Fill in the blank: SWOT analysis is often used in ______ planning.
strategic
Short Answer: Name one common method for gathering data for a SWOT analysis.
Surveys, interviews, or market research
Which internal factor is considered a ‘Weakness’ in a SWOT analysis?
Lack of skilled labor
Multiple Choice: Which of the following is NOT a part of a SWOT analysis? A) Strengths B) Weaknesses C) Regulations D) Threats
C) Regulations
What is the benefit of identifying ‘Opportunities’ in a SWOT analysis?
To leverage favorable conditions for growth
True or False: SWOT analysis can help in risk management.
True
Fill in the blank: The ‘Strengths’ and ‘Weaknesses’ sections of a SWOT analysis focus on ______ factors.
internal
Short Answer: How can a company use the results of a SWOT analysis?
To inform strategic decisions and improve performance
What is one challenge when conducting a SWOT analysis?
Bias in evaluating strengths and weaknesses
Multiple Choice: Which of the following is an example of a ‘Threat’? A) Strong brand reputation B) Increased competition C) Loyal customer base
B) Increased competition
True or False: SWOT analysis should involve multiple stakeholders for a comprehensive view.
True
What is the ideal outcome of a SWOT analysis?
A strategic plan that maximizes strengths and opportunities while minimizing weaknesses and threats
Fill in the blank: Conducting a SWOT analysis can lead to improved ______ and ______.
strategic alignment, competitive advantage
Short Answer: Why is it important to regularly update a SWOT analysis?
To reflect changes in the internal and external environment
What should be done after completing a SWOT analysis?
Develop actionable strategies based on the findings