W5- CHAPTER 3

Question 1

is the process that identifies an organization’s strengths, weaknesses, opportunities and threats.

Answer 1

SWOT ANALYSIS

Question 2

is a basic, analytical framework that assesses what an entity can and cannot do, for factors both internal as well as external.

Answer 2

SWOT ANALYSIS

Question 3

The main purpose of the analysis is to add value to goods and services that would result to easy recruitment of new customers.

Answer 3

SWOT ANALYSIS

Question 4

In swot analysis, the main purpose of the analysis is to add ______ to goods and services that would result to easy recruitment of new customers.

Answer 4

value

Question 5

WHAT ARE THE ELEMENTS OF SWOT ANALYSIS

Answer 5

STRENGTH
WEAKNESSES
OPPORTUNITY
THREAT

Question 6

is a positive internal factor.

Answer 6

STRENGTH

Question 7

is a negative internal factor.

Answer 7

WEAKNESSES

Question 8

is a positive external factor.

Answer 8

OPPORTUNITY

Question 9

is a negative external factor

Answer 9

THREAT

Question 10

describe what an organization excels at
and separate it from the competition.

Answer 10

STRENGTHS

Question 11

Things like strong brand, loyal customer base, strong balance sheet, and unique technology are some examples of __________

Answer 11

STRENGTHS

Question 12

are areas where the business needs
to improve to remain competitive such as high levels of debt, an inadequate supply chain, lack of capital, limited expertise, substandard service or physical location.

Answer 12

WEAKNESSES

Question 13

WHAT ARE THE EXAMPLESOF WEAKNESSES (5)

Answer 13

Online Presence
Branding and Reputation
Outdated Technology
Marketing Budget
Human Resources

Question 14

refers to favorable external factors that an
organization can use to give it a competitive advantage such as
market growth, lifestyle changes, resolution of current problems or the basic ability to offer a higher degree of value in relation to competitors to promote and increase demand.

Answer 14

OPPORTUNITIES

Question 15

refers to factors that have the potential to harm an organization such as cost for inputs, increasing competition,
tight labor supply, unsustainable price, increased government regulation, economic downturns, negative press
coverage, shifts in consumer behavior, etc.

Answer 15

THREATS

Question 16

WHAT ARE THE MAJOR BENEFITS OF SWOT ANALYSIS

Answer 16

Cost-effective
Wide range of application
Promotes Discussion
Provides Visual Overview
Offers Insight
Integration and Synthesis
Fosters Collaboration

Question 17

refers to the process of concentrating resources and efforts on a specific set of goals or priorities to achieve a competitive advantage or success in business.

Answer 17

STRATEGIC FOCUS

Question 18

It provides clear direction, optimizes the allocation of resources, and ensures that actions are aligned with long-term objectives.

Answer 18

STRATEGIC FOCUS

Question 19

achieving rapid growth by using the organization’s strengths and capitalizing on favorable market conditions.

Answer 19

AGGRESSIVE

Question 20

reducing risk and stabilizing revenue streams by expanding into new markets, industries, or product lines.

Answer 20

DIVERSIFICATION

Question 21

reviving a struggling business by addressing operational inefficiencies, cutting costs, or reorienting the business model.

Answer 21

TURNAROUND

Question 22

protecting the company’s existing market position and assets by minimizing risks and guarding against external threats.

Answer 22

DEFENSIVE

Question 23

______________ AND _______________ Strategy were developed by globally pre-eminent management thinkers Chan Kim and Renee Mauborgne.

Answer 23

BLUE AND RED OCEAN STRATEGY

Question 24

Blue and Red Ocean Strategy were developed by globally pre-eminent management thinkers___________ and ______________________.

Answer 24

• CHAN KIM
• RENEE MAUBORGNE

Question 25

referred to a market for a product where there is no competition or very less competition and there is no pricing pressure.

Answer 25

BLUE OCEAN STRATEGY

Question 25

represents all the industries in existence today—the known market space. In a ____________________, companies compete within established boundaries, often leading to intense competition.

Answer 25

RED OCEAN STRATEGY

Question 26

Blue Ocean Strategy referred to a market for a product where there is ______________ or _______________ and there is no pricing pressure.

Answer 26

• NO COMPETITION
• VERY LESS COMPETITION

Question 27

Red Ocean Strategy represents all the
industries in existence today—the known
market space. In a red ocean, companies
compete within established boundaries, often leading to ______________________.

Answer 27

INTENSE COMPETITION