IB Business Management MCQ QuizIB_Business_Management_SWOT analy

Identify the four elements of the SWOT acronym.

• Society, weather, opportunity cost, technology

• Strategies, wishes, objectives, tactics

• Strengths, weaknesses, opportunities, threats

• Suppliers, workers, owners, trade unions

Identify the alternative name sometimes used for a SWOT analysis.

• External analysis

• Growth analysis

• Stakeholder analysis

• Situational analysis

Identify the least appropriate reason to conduct a SWOT analysis.

• To aid strategic planning

• To assess and evaluate a firm’s market position

• To determine a firm’s growth strategy

• To identify and assess potential growth opportunities

Identify the points a firm would consider to be strengths in a SWOT analysis.

• i + ii

• ii + iii

• i + ii + iii

• All of the options

In a SWOT analysis, a threat has an ________ origin and is _________ to the achievement of a firm’s objectives.

• External, harmful

• External, helpful

• Internal, harmful

• Internal, helpful

Identify the element of a SWOT analysis that has an internal origin.

• Assets

• Liabilities

• Threats

• Weaknesses

Identify possible limitations of a SWOT analysis.

• i. It is a static rather than dynamic business model

• ii. It can be subjective and vulnerable to bias or research limitations

• iii. It does not prioritise or ‘weight’ issues quantitatively, so is rather simplistic

• iv. It is limited to the internal perspectives of a firm

Identify a potential weakness for a firm.

• Choice of business location

• Entry of new competitors

• Increasing interest rates

• None of the above options

Using SWOT analysis, categorize the points and identify their most likely placement for an electric car manufacturer.

• i: opportunity, ii: weakness, iii: threat, iv: strength

• i: strength, ii: weakness, iii: weakness, iv: threat

• i: threat, ii: strength, iii: opportunity, iv: opportunity

• i: weakness, ii: strength, iii: threat, iv: opportunity

Which of the following is least likely to be a common mistake made when preparing a SWOT analysis?

• Failure to analyze the relationships between the points

• Identifying generic opportunities, rather than real external changes that enhance a firm’s chances of success

• Ignoring threats and/or weaknesses

• Preparing for a past or future moment rather than for the current situation