COMPREHENDING MARKET RESEARCH AND SWOT ANALYSIS (TLE)

Question 1

Is an organized way of gathering, analyzing, and interpreting information that is vital in securing the success of a business.

Answer 1

Market Research

Question 2

What does SWOT stand for?

Answer 2

S - Strengths
W - Weaknesses
O - Opportunities
T - Threats

Question 3

What are the two components under internal factors?

Answer 3

1. Strengths
2. Weaknesses

Question 4

What are the two components under external factors?

Answer 4

1. Opportunities
2. Threats

Question 5

Describes the capabilities, resources, and areas where an organization excels like good leadership, competent staff, clear vision/mission, and etc.

Answer 5

Strengths

Question 6

Prevents an enterprise or business from performing at its best because of some constraints, such as higher-than-industry average turnover, and etc.

Answer 6

Weaknesses

Question 7

Refers to favorable external factors that can be used by an enterprise to give it a competitive advantage, such as a new market.

Answer 7

Opportunities

Question 8

Refers to factors that have the potential to harm an organization, such as typhoons, peace and order situation, and etc.

Answer 8

Threats