Communicationfor BusinessandTrade

Question 1

is a strategic tool represented in a matrix format that helps organizations or individuals evaluate their Strengths, Weaknesses, Opportunities, and Threats. It distinguishes between internal factors (which can be controlled) and external factors (which cannot).

Answer 1

SWOT Analysis in Business Communication

Question 2

Internal vs External Factors:

Answer 2

Internal factors: Elements within the organization’s control, such as resources, skills, and processes.

External factors: Influences outside the organization’s control, including market trends, regulations, and competition.

Question 3

: Elements within the organization’s control, such as resources, skills, and processes.

Answer 3

Internal factors:

Question 4

Influences outside the organization’s control, including market trends, regulations, and competition.

Answer 4

External factors:

Question 5

Benefits of SWOT Analysis:

Answer 5

Identifies a company’s capabilities and available resources.

Assesses the competitive environment and market position.

Helps develop effective marketing strategies.

Reveals new opportunities or ventures that have not been explored.

Acts as a planning tool for decision-making and strategic development.

Question 6

Steps to Conduct SWOT Analysis:

Answer 6

Define the objective clearly to ensure the analysis focuses on what matters most.

Identify internal strengths and weaknesses:

Strengths: What the company does better than competitors.

Weaknesses: Areas where competitors outperform or internal limitations.

Identify external opportunities and threats:

Opportunities: Favorable external conditions that the company can exploit.

Threats: External challenges or obstacles that could hinder growth.