SWOT analysis

Mr Jonas a culinary chef has been a chef for 3 years, and he has a dream to open his own restaurant. He has found the perfect space for his restaurant and has enough capital to start his business. However, Mr Jonas has no entrepreneurial skills and doesn’t know the first thing about starting a business even though he is a cook. Mr Jonas would like to open a steak house restaurant but the location he chose for his business already has 3 steak house restaurants. Mr Jonas has passion, he has Capital and he is a hard worker.    

 Identify threats that Mr Jonas might face during the process of starting his business?  (ANA)

• he has no entrepreneurial skills and this may influence his business negatively.

• He has to many competitors and it might put a strain on Mr Jonas potential customer base.

• He is a hard worker and he has passion this may blur his vision in seeing the potential threats to his dream.

• Mr Jonas has sufficient Capital and with money he can make his business appealing to potential customers.

What is the purpose of performing a SWOT Analysis? (CRE)

• Identifies internal and external factors that may affect the business future performance.

• Access a organisations performance

• Evaluates whether the business venture is a good idea.

• Gives the management team a broader view on the potential opportunity

Identify 5 steps in how to write up a good swot analysis?(ANA)

• Draw conclusions, Determine the objectives, create a grid, label each box, add strengths and weaknesses.

• Add strengths and weaknesses, identify opportunities and threats, determine the objectives, sort by importance, draw conclusions.

• Determine the objectives, create a grid, label each box, add strengths and weaknesses, draw conclusions.

What would be a potential threat to a business?(EVA)

• Changes in technology and markets e.g. The internet.

• Ability to prioritize

• Flexibility

• Intrusions in the market

Determine a potential weakness that Mr Jonas has?(APP)

• Self-critical/sensitive

• Attention to detail

• Interpersonal skills

• Property losses and liabilities

Give an example of 2 potential threats to a business?(APP)

• Business interruptions, electronic data breaches

• Liability losses, local and global events

• Changes in government policy, self confidence

• Resilience, optimistic

When assessing on the businesses external environment the owner is concerned with?(APP)

• Opportunities and Threats

• weaknesses and threats

• strengths and weaknesses

• strengths and opportunities

What does the acronym SWOT stands for?(EVA)

• Strengths, Weaknesses, Obligations, Threats

• Strengths, Weaknesses, Opportunities, Threats

• Strengths, Weak points, Opportunities, Threats

• Strengths, Weaknesses, Opportunities, Time

Why is it important for the business to evaluate managerial decisions using a SWOT analysis? (UND)

• It analysis strengths, weaknesses, obligations and threats

• It analysis strong points, weak points, opportunities and threats

• It analysis strengths, weaknesses, opportunities and threats

• It analysis strengths, weaknesses, opportunities and time

Mr. Jonas has conducted a SWOT analysis for his restaurant. What should his next step be? (CRE)

• Making sure that weaknesses are offset by the strengths and threats are turned into opportunities.

• Making sure that weaknesses are offset by opportunities and threats are turned into strengths.

• Making sure that strengths are offset by weaknesses and opportunities and turned into threats.

• Making sure that opportunities are offset by threats and strengths are turned into weaknesses.