SWOT Analysis Quiz

What does SWOT stand for?

• Sales, Workforce, Operations, Technology

• Strengths, Weaknesses, Opportunities, Threats

• Success, Wealth, Ownership, Teamwork

• Strategy, Workflow, Organization, Tactics

When should a SWOT analysis be performed?

• Before committing to any company action

• After executing a plan

• When revamping internal policies

• Only when exploring new initiatives

What is the objective of a SWOT analysis?

• To evaluate financial resources and investment opportunities

• To determine the best marketing strategies

• To identify why corporate planning consistently fails

• To develop a full awareness of all factors involved in making a business decision

What are examples of internal factors in a SWOT analysis?

• Financial resources, physical resources, human resources

• Market trends, economic trends, funding

• Relationships with suppliers and partners

• Political regulations, environmental regulations, economic regulations

What are examples of external factors in a SWOT analysis?

• Market trends, economic trends, funding

• Financial resources, physical resources, human resources

• Relationships with suppliers and partners

• Political regulations, environmental regulations, economic regulations

When is it wise to perform a general SWOT analysis?

• To check on the current landscape of your business and improve operations

• When revamping internal policies

• When exploring new initiatives

• After committing to a company action

Who should be involved in creating a SWOT analysis?

• Customers and clients

• External consultants and advisors

• Only the business owner

• The business owner and other team members

What should be done after completing a SWOT analysis?

• Develop recommendations and strategies based on the results

• Ignore the analysis and continue with current operations

• Eliminate all weaknesses and threats

• Revamp internal policies immediately

What is another business analysis strategy similar to SWOT analysis?

• All of the above

• PEST analysis

• MOST analysis

• SCRS analysis

What is the best way to keep track of growth, strengths, and weaknesses?

• Consistent business analysis and strategic planning

• Implementing new technologies without analysis

• Ignoring weaknesses and focusing only on strengths

• Relying on external consultants for analysis