3.1.3 SWOT analysis

Question 1

what is swot analysis?

Answer 1

an analytical tool used to identify strengths, weaknesses, opportunities and threats

Question 2

how can swot analysis be helpful?

Answer 2

can help managers to understand the current business position so that appropriate decisions can be made

Question 3

examples of strengths

Answer 3

skilled staff
innovation
patents
loyal customer base

Question 4

examples of weaknesses

Answer 4

costly production
lack of finance
not having a usp
poor reputation

Question 5

examples of opportunities

Answer 5

developing markets
few competitors
technological developments

Question 6

examples of threats

Answer 6

new competitors
legislation
technology threats
negative press coverage