What is SWOT?
What does SWOT stand for?
Strengths, Weaknesses, Opportunities, and Threats
Are Strengths internal or external?
Internal
Are opportunities internal or external?
External
Strengths are things a business does well.
True
A business has loyal customers.
Strength.
What is the purpose of the SWOT Analysis?
To help businesses understand their current situation and make better decisions?
Give one example of a strength
Good reputation, skilled employees, loyal customers, quality products, or strong customer service
Give one example of an opportunity.
New customers, new technology, expanding to new markets, or growing demand.
Weaknesses are external factors.
False.
The business has old computers that slow down work.
Weakness
Who uses SWOT Analysis?
Businesses, organizations, and individuals
Give one example of a weakness
Poor customer service, oudated equipment, limited advertising
Give one example of a threat.
New competitors, rising costs, economic downturn, or natural disasters.
Opportunities are outside the business.
True
More people are buying products online.
Opportunity.
SWOT Analysis helps businesses make what kind of decisions?
Strategic or business decisions
Which SWOT factor descibes something a business does well?
Strength
Which SWOT factor represents something outside the business that can help it grow?
Opportunity.
Threats are things a business can completely control.
False
A new competitor opens nearby.
Threat.
What does SWOT help businesses understand before making a plan?
Their strengths, Weaknesses, opportunities and threats
Which SWOT factor identifies areas that need improvement?
Weakness
Which SWOT factor represents outside challenges that could hurt a business?
Threat
SWOT Analysis helps businesses plan for the future
True
A bakery wants to complete a SWOT Analysis. Classify each statement: