3.1.3

Question 1

What is SWOT analysis?

Answer 1

Acronym - analytical tool to analyse the strengths, weaknesses, opportunities + threats where the business operates

Question 2

What r the external factors of swot?

Answer 2

Opportunities and threats (as happen outside business)

Question 3

What r the internal factors of swot?

Answer 3

Strengths and weaknesses (as what the business can control)

Question 4

Purposes?

Answer 4

Strengths - sustains
Weaknessses - solve/eliminate
Opps - exploite
Threats - protect ourselves from

Question 5

Advantages of swot

Answer 5

Identify weaknesses + develop strategies to solve them (train employees)

Question 6

Disadvantages of swot

Answer 6

-Find solutions urself as swot analysis doesn’t tell you
-subjective as owner does swot analysis