E II OBJ 4.04 MC

Conducting a SWOT analysis is the first step in which process?

• Strategic planning

• Risk management

• Business organization

• Fundraising

A good reputation among current clients is a(n)

• strength.

• weakness.

• opportunity.

• threat.

New competition moving into your area is a(n)

• threat.

• strength.

• weakness.

• opportunity.

A new customer moving into your area is a(n)

• opportunity.

• strength.

• weakness.

• threat.

A lack of equipment or technology is primarily a(n)

• weakness.

• strength.

• opportunity.

• threat.

Which of the following is a benefit of conducting SWOT analysis:

• It provides a filter for a great deal of information.

• Weaknesses will diminish for your business.

• It completes the task of strategic planning.

• Your business will make more money.

The most crucial part of the SWOT analysis method involves

• where you get your information.

• the number of strengths you identify.

• what time of year you conduct the analysis.

• your goal for the analysis.

What is a SWOT Analysis?

• A marketing tool that investigates a business’s strengths, weaknesses, opportunities, and threats, in an organized fashion

• Any resource or capability your business has that can help you gain a competitive advantage in your industry

• Long-range planning (three to five years) for the company as a whole

• Any limitation or shortcoming your business has that can keep you from achieving your objectives