pg 36

Question 1

The Situational Analysis “sets the scene” for your business plan. It is often referred to as the
_________ analysis

Answer 1

SWOT’s

Strengths, Weaknesses, Opportunities and Threats

Question 2

__________ is basically an industry overview, which presents relevant information
relating to the market and the opportunity at hand.

Answer 2

External Analysis

Question 3

__________ describes the “what” and “who” of the business:

Name, location, contact info

Answer 3

Internal Analysis

Question 4

Sourcing information for the Situational Analysis
Information sources can come from __________ or ________ research and can be __________ or
____________ in nature :

Answer 4

primary
secondary
qualitative
quantitative

Question 5

have to collect it yourself via surveys, interviews, focus groups, observations, etc.

Answer 5

Primary

Question 6

information that already exists (e.g. articles in journals/trade magazines, websites,
industry associations, government departments such as Stats Can, Industry Canada etc).

Answer 6

Secondary

Question 7

small sample size – not statistically significant. Gives a “general” read on a
situation and may bring various hypotheses into light. More “opinion” related.

Answer 7

Qualitative

Question 8

very large sample sizes, statistically significant, can extrapolate findings to
market. e.g. phone/mail/internet surveys & questionnaires - usually proceeded by qualitative
research.

Answer 8

Quantitative