Unit 5: Business strategy - SWOT analysis

Front

What are the two main branches of strategy analysis?

Back

Analysis of a firm's external environment and analysis of a firm's internal environment.

Front

What does SWOT stand for?

Back

Strengths, Weaknesses, Opportunities, Threats.

Front

What do strengths and weaknesses relate to in SWOT analysis?

Back

Strengths and weaknesses relate to a firm's internal environment.

Front

What do opportunities and threats consider in SWOT analysis?

Back

Opportunities and threats consider a firm's external environment.

Front

What is the purpose of a SWOT analysis?

Back

To group and visualize strengths and weaknesses and to identify potential threats and opportunities in the external environment.

Front

How are the four elements of SWOT analysis typically arranged?

Back

Internal strengths and external opportunities are paired as helpful elements, while internal weaknesses and external threats are paired as harmful elements.

Front

What might be included under strengths in a company analysis?

Back

Core competencies and areas where the business excels and has a competitive advantage.

Front

Give an example of a firm's strength.

Back

Strong brand recognition.

Front

What are weaknesses in the context of SWOT analysis?

Back

Areas that need improvement which place a company at a disadvantage.

Front

Give an example of a weakness.

Back

Higher cost structure.