SWOT analysis Flashcards
1
Q
SWOT analysis
A
- It helps a business assess its competitive strength and the nature of the external environment
2
Q
What does SWOT stand for?
A
Strengths- Internal
Weaknesses- Internal
Opportunities - External
Threats- External
3
Q
Evidence of strengths and weaknesses
A
- Market share
- Probability
- Efficiency
4
Q
Evaluating the strength and weaknesses
A
- Is the judgement reliable
- How can the weakness be overcome?
- How sustainable are the strengths?
5
Q
Advantages of SWOT
A
- Logical structure
- Focuses on strategic issues
- Encourages analysis of external environment
6
Q
Disadvantages of SWOT
A
- Too often lacks focus
- Can quickly become out of date
