WorksheetsBusiness Budgeting & SWOT Analysis Corrections
Total questions: 14
Worksheet time: 28mins
Weaknesses are negative, but are something the business can control and work to change.
True
False
The business space has a limited capacity to entertain many customers at the same time. This is an example of a:
Strength
Weakness
Threat
Opportunity
The business has staff who are experienced and well-trained. This is considered a:
Threat
Weakness
Strength
Opportunity
Positive factors that are not within the control of the business, like a random positive visit and review from Keith Lee, are known as what?
Opportunity
Threat
Strength
Weakness
Explain one benefit of conducting a SWOT analysis for a school club, sport or organization.
It helps identify the strengths, weaknesses, opportunities, and threats related to the activity.
It provides a detailed financial plan for the school year.
It ensures that all members are equally skilled.
It guarantees victory in all competitions.
SWOT analysis is only useful for businesses and not applicable to personal decision-making.
True
False
It depends on the situation
Only applicable for financial decisions
If a company discovers it has a weakness in customer service during SWOT analysis, what action should it take?
Address and improve the weakness through training employees.
Highlight the weakness to competitors
Ignore the weakness
All of these
What does a "threat" represent in SWOT analysis?
External factors that could harm the organization.
Opportunities for growth.
Something the company does well.
Internal challenges that the company faces.
What does SWOT stand for in SWOT analysis?
Strengths, Weaknesses, Opportunities, Threats
Solutions, Weaknesses, Opportunities, Tactics
Strategies, Weaknesses, Opportunities, Techniques
Strengths, Widgets, Optical illusions, Travesty
A __________ is a plan for spending and saving money.
threat
None of these
Budget
SWOT Analysis
An expense that doesn't change from month to month is...?
variable expense
fixed expense
discretionary expense
none of these
1.A plan for future spending and saving, weighing estimated income against estimated Expenses.
Gross Income
Debt
Expense
Budget
3.The state of owing money to another individual or business, or the amount of money borrowed.
Gross Income
Net Income
Debt
Budget
Rent is an example of a __________ expense.
Fixed
Variable
