SWOT Analysis Reviewer/Quiz

What does the 'S' in SWOT analysis stand for?

• Solutions

• Strategies

• Strengths

• Sales

What are examples of internal factors in a SWOT analysis?

• New regulations and potential threats

• Rising costs for materials and increasing competition

• Financial resources and operational efficiencies

• Market changes and access to suppliers

What do weaknesses refer to in a SWOT analysis?

• Factors that have the potential to harm an organization

• Areas where the business needs to improve to remain competitive

• Favorable external factors that could give an organization a competitive advantage

• Techniques for assessing the performance, competition, risk, and potential of a business

What is the purpose of using SWOT analysis for a company?

• To make smarter decisions to preserve what it does well

• To capitalize on its strengths

• To mitigate risk regarding weaknesses

• All of the above

What are examples of opportunities for Sipsip Coffee Shop?

• Negative Online Reviews impacting Reputation

• Collaborate with Local Artists for Art Exhibitions

• Fluctuating Coffee Bean Prices

• Competition from Established Chains

What are examples of threats for Sipsip Coffee Shop?

• Launch a Loyalty Program to Retain Customers

• Economic Downturn affecting Customer Spending

• High-Quality Coffee Beans and Unique Blends

• Partner with Food Delivery Services for Online Orders

What are examples of strengths for Sipsip Coffee Shop?

• Limited Marketing Budget

• Small Seating Area

• High-Quality Coffee Beans and Unique Blends

• Dependency on Local Suppliers for Ingredients

What are examples of weaknesses for Sipsip Coffee Shop?

• Prime Location in a Busy Commercial Area

• Well-Trained and Friendly Staff

• Lack of Online Presence

• Cozy Ambiance and Free Wi-Fi for Customers

What are examples of external factors in a SWOT analysis?

• Tight labor supply and operational efficiencies

• Monetary policies and market changes

• Unique technology and strong brand

• Lack of capital and high levels of debt

What are the components of a SWOT analysis?

• Product, Price, Place, Promotion

• Sales, Marketing, Operations, Finance

• Planning, Organizing, Leading, Controlling

• Strengths, Weaknesses, Opportunities, Threats