SWOT Analysis

What does SWOT stand for in SWOT analysis?

• Strengths, Weaknesses, Obstacles, and Triumphs

• Success, Weaknesses, Opportunities, and Threats

• Strengths, Weaknesses, Opportunities, and Threats

• Strengths, Wealth, Opportunities, and Triumphs

What are the internal factors considered in SWOT analysis?

• Opportunities and threats

• Strengths and weaknesses

• Advantages and disadvantages

• Assets and liabilities

What are the external factors considered in SWOT analysis?

• Financial performance and company culture

• Opportunities and Threats

• Strengths and Weaknesses

• Market trends and customer preferences

Give an example of a strength in a SWOT analysis.

• Weak financial position

• Negative customer reviews

• High production costs

• Strong brand reputation

Give an example of a weakness in a SWOT analysis.

• Strong market presence

• Overabundance of resources

• Lack of competition

• Lack of resources

Give an example of an opportunity in a SWOT analysis.

• Losing a major client due to poor customer service.

• Entering a new market with high demand for the company's product or service.

• Facing a lawsuit for patent infringement.

• Experiencing a decrease in market demand for the company's product or service.

Give an example of a threat in a SWOT analysis.

• Increase in customer satisfaction

• Expansion into new markets

• Decrease in production costs

• A new competitor entering the market and offering similar products at a lower price.

How is SWOT analysis used in business strategy?

• SWOT analysis is used to calculate profits and losses in the business

• SWOT analysis is used to identify strengths, weaknesses, opportunities, and threats in the business environment, which helps in strategic planning and decision-making.

• SWOT analysis is used to forecast future stock prices

• SWOT analysis is used to determine employee satisfaction levels

What are the limitations of SWOT analysis?

• Lack of specific action steps

• Too time-consuming

• Not applicable to all industries

• Limitations of SWOT analysis include oversimplification, present-focused, subjective, and potential for overlooking external factors.

How can a company use SWOT analysis to gain a competitive advantage?

• By downplaying its strengths and exaggerating its weaknesses

• By ignoring its strengths and weaknesses and only focusing on opportunities

• By leveraging its strengths, addressing its weaknesses, capitalizing on opportunities, and mitigating threats.

• By disregarding threats and only focusing on weaknesses