SWOT analysis

Question 1

Internal audit

Answer 1

An analysis of the business itself and how it operates
- products and costs
- finance ie profit, assets
- productions
- human resources

Question 2

External audit

Answer 2

An analysis of the environment the business operates in
- size and growth potential
- products on offer
- product promotion
- product distribution
- pricing structure

Question 3

strengths

Answer 3

• respected leadership
• high motivation
• product with a USP
• loyalty

Question 4

weaknesses

Answer 4

• poorly motivated workforce
• poor cash flow + debt
• bad organizational structure
• outdated tools and machinery

Question 5

opportunities

Answer 5

• new overseas market
• low interest rates
• fall in the exchange rate

Question 6

threats

Answer 6

• new entrant in the market
• new legislation
• change in social values

Question 7

marketing mix

Answer 7

• product
• price
• place
• promotion
• people