SWOT analysis Flashcards
(6 cards)
what is swot analysis
a planning tool that helps a business identify its internal strengths and weaknesses as well as external opportunities and threats
what can Swot analysis be used for
to evaluate the business’s current situation and interpret information about what the business might do well, where improvements can be made and where the business might be places in the external environment
what does SWOT stand for
strengths weakness opportunity and threat and analysis
what is one pro and con of swot analysis
pro- can be used to evaluate the businesses current situation
con- does not offer soloutions to weaknesses or threats
what is a business plan
written statement of the goals and objectives of a business and steps to be taken to achieve them it is a summary and an evaluation of a business concept
what is one pro and con of a business plan
peo- helps test the viability of a business
con- just a plan and doesn’t gaurentee success
