swot analysis Flashcards
1
Q
what is swot analysis
A
- strengths
- weaknesses
- opportunities
- threats
2
Q
what could strengths be in a business
A
- technological skills
- leading brands
- distribution channels
- customer loyalty/relationships
- production quality
- scale
- management
3
Q
what could weaknesses be in a business
A
- absence of important skills
- weak brands
- poor access to distribution
- low customer retention
- unreliable product/service
- sub scale
- management
4
Q
what are opportunities in a business
A
- changing customer tastes
- technological advances
- changes in government politics
- lower personal taxes
- change in population age
- new distribution channels
5
Q
what are threats in a business
A
- changing customer base
- closing of geographic markets
- technological advances
- changes in government politics
- tax increases
- change in population age
- new distribution channels
6
Q
assessing strengths and weaknesses
A
- competitive advantages
- role of benchmarking
- key performance indicators
7
Q
Likely evidence of strengths and weaknesses
A
- market share
- profitability
- efficiency
- brand recognition and loyalty
- market capitaislaiton
- reputation for quality
8
Q
evaluating strengths and weaknesses
A
- important to focus only the most important
- is the judgement made reliable
9
Q
A
