Conditions in the external environment that does not relate to existing strengths or current weakness is called opportunity.

• True

• False

Strength and weaknesses are internal while opportunity and threats are external

• True

• False

External environment are controllable elements inside a firm that influence how well the firm operates.

• True

• False

The internal environment is global and requires consideration of legal, econominc, technological and sociocultural factors among others.

• True

• False

These refer to the areas in which your business does not perform well or could stand improvement.

• strengths

• weaknesses

• opportunities

• threats

These are positive and favorable factors in the environment, which you should take advantage of or which can make a project idea potentially viable or feasible.

• strength

• weaknesses

• opportunities

• threats

These factors are normally beyond your control as an entrepreneur.

• strengths

• weaknesses

• opportunities

• threats

These are the advantages or things that make your business stronger.

• strengths

• weaknesses

• opportunities

• threats

Resource limitations.

• Strength

• Weakness

• Opportunity

• Threat

You conduct a SWOT analysis and find out that a new competitor is opening within 5 miles of your store. This would be considered a __________.

• Strength

• Weakness

• Opportunity

• Threat