SWOT Analysis Flashcard

Front

What does SWOT stand for?

Back

Strengths, Weaknesses, Opportunities, Threats

Front

When should a SWOT analysis be performed?

Back

Before committing to any company action

Front

What is the objective of a SWOT analysis?

Back

To develop a full awareness of all factors involved in making a business decision

Front

What are examples of internal factors in a SWOT analysis?

Back

Financial resources, physical resources, human resources

Front

What are examples of external factors in a SWOT analysis?

Back

Market trends, economic trends, funding

Front

When is it wise to perform a general SWOT analysis?

Back

To check on the current landscape of your business and improve operations

Front

Who should be involved in creating a SWOT analysis?

Back

The business owner and other team members

Front

What should be done after completing a SWOT analysis?

Back

Develop recommendations and strategies based on the results

Front

What is another business analysis strategy similar to SWOT analysis?

Back

PEST analysis

Front

What is the best way to keep track of growth, strengths, and weaknesses?

Back

Consistent business analysis and strategic planning