SWOT Analysis Review

The first step when determining the feasibly of a new project or expansion project is to determine?

• Market trends and opportunities

• Internal strengths and weaknesses

• External threats and challenges

• Financial projections and budgets

Mr. Jonas has conducted a SWOT analysis for his restaurant. What should his next step be?

• Identifying new marketing strategies to attract customers.

• Making sure that weaknesses are offset by the strengths and threats are turned into opportunities.

• Reducing the menu items to focus on bestsellers.

• Hiring a consultant to improve the restaurant's interior design.

What is the purpose of performing a SWOT Analysis?

• To identify internal and external factors that may affect the business future performance.

• To create a marketing strategy for a new product.

• To analyze the financial statements of a company.

• To evaluate employee performance and productivity.

A damaged reputation would fall into which category on a SWOT analysis?

• Strength

• Opportunity

• Threat

• Weakness

Your company has discovered that a new competitor has entered the market. At which stage of the SWOT analysis would this discovery probably be made?

• Analysis of strengths

• Analysis of weaknesses

• Analysis of opportunities

• Analysis of threats

A SWOT analysis examines both the internal and external environment.

• True

• False

• Only internal environment

• Only external environment

Which of the following would be a potential threat to a business? Changes in technology and markets e.g. The internet. Ability to prioritize Flexibility Intrusions in the market

• Changes in technology and markets

• Ability to prioritize

• Flexibility

• Intrusions in the market

When assessing on the business's external environment the owner is concerned with which parts of a SWOT analysis?

• Strengths and Weaknesses

• Opportunities and Threats

• Strengths and Opportunities

• Weaknesses and Threats

Using a SWOT analysis to identify weaknesses, your business can further develop by:

• Using your weaknesses to identify areas for improvement

• Ignoring your weaknesses and focusing on strengths

• Outsourcing all tasks to avoid weaknesses

• Maintaining the status quo without changes

During the SWOT analysis you learn that customers perceive your business as having excellent customer service. In which category would this information belong?

• Strengths

• Weaknesses

• Opportunities

• Threats