Chapter 8 Evaluating Opportunities

Which of the following is not part of a SWOT analysis?

• threats

• organizations

• strengths

• weaknesses

Critical thinking is an entrepreneurial mindset skill that involves

• using the creative part of your mind to analyze or evaluate a situation

• being critical of your business associates

• thinking like a critic

• using logic to analyze and evaluate a situation or object

Critical thinking involves

• objectivity

• logic

• subjectivity

• all of the above

To conduct an accurate cost/benefit analysis, don’t forget to include

• calculated risk

• threats

• insurance benefits

• opportunity cost

When performing a SWOT analysis of a business opportunity, your competitors would be

classified as a

• threat

• weakness

• option

• strength

If something is intangible, you can’t

• see it

• eat it

• touch it

• all of the above

A calculated risk is one that carefully considers the potential costs and benefits of an idea.

• T

• F

A SWOT analysis measures strengths, weaknesses, opportunities, and time frame.

• T

• F

Critical thinking is also called “vertical thinking.”

• T

• F

SWOT analysis is only useful when starting a business, not while operating a business.

• T

• F