SWOT Analysis in Business

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

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

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.

The first step Mr. Jonas consider determining the feasibly of a new project or expansion project is to determine? (REM)

• External strengths and threats

• External weaknesses and opportunities

• Internal opportunities and threats

• Internal strengths and weaknesses

Mr. Jonas discovered that a new competitor has entered the market. At which stage of the SWOT analysis would this discovery probably be made? (ANA)

• Analysis of strengths

• Analysis of weaknesses

• Analysis of opportunities

• Analysis of threats

During the SWOT analysis Mr. Jonas has learned that another restaurant will be opening soon at the same location. He believes that consumers will be more interested in the new restaurant. Where would you analyses this information in your SWOT analysis?(REM)

• strengths

• weaknesses

• opportunities

• threats