W5- CHAPTER 3 Flashcards
is the process that identifies an organization’s strengths, weaknesses, opportunities and threats.
SWOT ANALYSIS
is a basic, analytical framework that assesses what an entity can and cannot do, for factors both internal as well as external.
SWOT ANALYSIS
The main purpose of the analysis is to add value to goods and services that would result to easy recruitment of new customers.
SWOT ANALYSIS
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.
value
WHAT ARE THE ELEMENTS OF SWOT ANALYSIS
STRENGTH
WEAKNESSES
OPPORTUNITY
THREAT
is a positive internal factor.
STRENGTH
is a negative internal factor.
WEAKNESSES
is a positive external factor.
OPPORTUNITY
is a negative external factor
THREAT
describe what an organization excels at
and separate it from the competition.
STRENGTHS
Things like strong brand, loyal customer base, strong balance sheet, and unique technology are some examples of __________
STRENGTHS
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.
WEAKNESSES
WHAT ARE THE EXAMPLESOF WEAKNESSES (5)
Online Presence
Branding and Reputation
Outdated Technology
Marketing Budget
Human Resources
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.
OPPORTUNITIES
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.
THREATS
WHAT ARE THE MAJOR BENEFITS OF SWOT ANALYSIS
Cost-effective
Wide range of application
Promotes Discussion
Provides Visual Overview
Offers Insight
Integration and Synthesis
Fosters Collaboration
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.
STRATEGIC FOCUS
It provides clear direction, optimizes the allocation of resources, and ensures that actions are aligned with long-term objectives.
STRATEGIC FOCUS
achieving rapid growth by using the organization’s strengths and capitalizing on favorable market conditions.
AGGRESSIVE
reducing risk and stabilizing revenue streams by expanding into new markets, industries, or product lines.
DIVERSIFICATION
reviving a struggling business by addressing operational inefficiencies, cutting costs, or reorienting the business model.
TURNAROUND
protecting the company’s existing market position and assets by minimizing risks and guarding against external threats.
DEFENSIVE
______________ AND _______________ Strategy were developed by globally pre-eminent management thinkers Chan Kim and Renee Mauborgne.
BLUE AND RED OCEAN STRATEGY
Blue and Red Ocean Strategy were developed by globally pre-eminent management thinkers___________ and ______________________.
- CHAN KIM
- RENEE MAUBORGNE
referred to a market for a product where there is no competition or very less competition and there is no pricing pressure.
BLUE OCEAN STRATEGY
represents all the industries in existence today—the known market space. In a ____________________, companies compete within established boundaries, often leading to intense competition.
RED OCEAN STRATEGY
Blue Ocean Strategy referred to a market for a product where there is ______________ or _______________ and there is no pricing pressure.
- NO COMPETITION
- VERY LESS COMPETITION
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 ______________________.
INTENSE COMPETITION
