SWOT Analysis; Analysing The Strategic Position Of A Business Flashcards
(8 cards)
1
Q
What does SWOT stand for?
A
Strengths
Weaknesses
Opportunities
Threats
2
Q
What does a SWOT analysis help a business assess?
A
Helps a business assess its competitive strength against the external environment
3
Q
What two elements of a SWOT analysis are the internal factors?
A
Strengths
Weaknesses
4
Q
What two factors are the external factors of a SWOT analysis?
A
Opportunities
Threats
(PESTLE)
5
Q
Outline the advantages to businesses of carrying out SWOTs?
A
- gives them a competitive advantage
- key performance indicator
6
Q
Outline examples of key performance indicators
A
- market share (%)
- operating profit (%)
- efficiency (unit costs)
- brand recognition & loyalty
- market capitalisation
- capacity utilisation
7
Q
Outline the features of key performance indicators
A
- time bound
- relevant
- attainable;e
- measureable
- specific
8
Q
Outline the main roles of a business legislation
A
- to regulate the rights and duties of people carrying business activities
- protect customers, investors and creditors
- ensure employees are treated fairly and not discriminated against
- prevent unfair competition
