Understanding SWOT Analysis Basics

What does SWOT stand for in SWOT analysis?

• Strengths, Weaknesses, Opportunities, Threats

• Strategies, Weaknesses, Options, Tactics

• Strengths, Weaknesses, Options, Tactics

• Strategies, Wins, Opportunities, Threats

Which of the following is a component of SWOT analysis?

• Strategies

• Opportunities

• Tactics

• Wins

In a business context, which of the following would be considered a "Strength" in SWOT analysis?

• A new competitor entering the market

• A strong brand reputation

• Economic recession

• High employee turnover

Which of the following is an example of a "Threat" in SWOT analysis?

• Launching a new product

• Increasing market share

• New regulations affecting the industry

• High customer satisfaction

How can SWOT analysis benefit a business?

• By increasing the number of employees

• By identifying areas for improvement and growth

• By reducing the cost of raw materials

• By eliminating all competition

Which component of SWOT analysis focuses on external factors that could be advantageous?

• Strengths

• Weaknesses

• Opportunities

• Threats

What type of analysis is SWOT primarily used for in businesses?

• Financial analysis

• Strategic planning

• Human resources management

• Product development

Which of the following is a benefit of using SWOT analysis in strategic planning?

• It guarantees business success

• It provides a comprehensive view of internal and external factors

• It eliminates all business risks

• It ensures maximum profit

What is an example of a "Weakness" in SWOT analysis for a company?

• Strong customer loyalty

• Limited product range

• Expanding market

• Technological advancements

Which of the following is NOT a component of SWOT analysis?

• Strengths

• Weaknesses

• Opportunities

• Strategies