1C - Situational analysis

What is meant by 'competitive advantage?'

• When an enterprise is break even

• When an enterprise is supposedly doing well but isn't really

• When an enterprise is doing well (has more strengths than weaknesses)

What does SWOT stand for?

• Strengths, weaknesses, opportunities, threats

• Stealth, weaknesses, opportunities, threats

• Speed, weaknesses, opportunities, treats

Why might an enterprise do a SWOT analysis?

• They want to identify all the internal and external factors that might impact them just in case they need to prove it's been done

• They want to identify all the internal and external factors because that they only way they will get a loan from the bank

• They want to identify all the internal and external factors that will impact them to know how they should react proactively to them

Maintaining a high number of customers, having a good reputation and offering quality service are all examples of ...

• Opportunity

• Strengths

• Success

Lack of provision for staff, not enough resources that would improve trade, goods or services that are not selling as well as others are all examples of

• Threats

• Opportunities

• Weaknesses

This is based on either strengths and/or weaknesses that could help the enterprise improve ...

• Opportunities

• Strengths

• Options

Changes in customer taste, new competition changing what they are doing on increasing their marketing, existing or new competitors lowering their prices to negatively affect the enterprise are examples of ...

• Threats

• Poor decision making

• Inability to proactively address issues

What is the term given to SWOT and PEST Analysis?

• Situational Analysis

• Spatial Awareness

• Sporadic Analysis

What does PEST stand for?

• Political, Ergonomic, Systemic, Technological

• Political, Environmental, Social, Technological

• Political, Economic, Social, Technological

Employment levels​, exchange rates, which can change the price of raw materials​, wages levels​, interest rates that enterprises may gave to pay for loans​, the amount of money people in the UK have to spend are all examples of ...

• Political

• Economical

• Social

• Technological