Understanding SWOT Analysis

What are strengths in a business context?

• Strengths are internal attributes and resources that provide a competitive advantage to a business.

• Strengths are market trends that a business should follow.

• Strengths are external factors that limit a business's growth.

• Strengths are weaknesses that need to be addressed.

How can weaknesses impact a business?

• Weaknesses can enhance a business's reputation.

• Weaknesses always lead to increased employee satisfaction.

• Weaknesses have no effect on a business's performance.

• Weaknesses can negatively impact a business by reducing efficiency, lowering morale, and leading to financial losses.

What is the difference between internal and external factors?

• Internal factors can be controlled by external stakeholders, while external factors cannot be influenced.

• Internal factors are always positive, while external factors are negative.

• Internal factors are only related to finances, while external factors are about marketing.

• Internal factors are internal to the organization, while external factors originate from outside the organization.

What are opportunities in a SWOT analysis?

• Internal strengths that need to be maintained.

• External factors that can be leveraged for growth and success.

• Weaknesses that should be addressed immediately.

• Threats that could hinder progress.

How do threats affect a business's value?

• Threats only affect employee morale, not the overall business value.

• Threats increase a business's value by attracting more customers.

• Threats negatively impact a business's value by causing financial losses and damaging reputation.

• Threats have no impact on a business's value whatsoever.

Why is it important to analyze both strengths and weaknesses?

• Strengths and weaknesses are irrelevant to performance.

• Analyzing only strengths is sufficient for success.

• Weaknesses should be ignored to maintain confidence.

• It is important to analyze both strengths and weaknesses to leverage advantages and address vulnerabilities effectively.

What role do tangible and intangible elements play in a business?

• Tangible elements do not affect customer perception, while intangible elements are only about employee satisfaction.

• Tangible elements provide physical resources, while intangible elements enhance brand value and innovation.

• Tangible elements are only financial assets, while intangible elements are irrelevant.

• Tangible elements are solely for marketing purposes, and intangible elements are physical goods.

How can a business leverage its strengths to create value?

• By outsourcing all operations to reduce costs.

• By eliminating all core competencies to diversify offerings.

• By focusing on core competencies and optimizing operations.

• By ignoring market trends and focusing on outdated practices.