Swot Analysis

Question 1

What is swot

Answer 1

Analysis of where your business currently is

Question 2

What does swot stand for

Answer 2

Strengths - what your business does well
Weakness - what your business does poorly
Opportunity - what is happening outside your business you can take advantage of
Threats - what is happening outside your business that can harm the business

Question 3

The point of swot

Answer 3

We can use our strengths to exploit opportunities whist but building up insurances for threats and solving weaknesses

Question 4

Benefits of swot

Answer 4

Increases motivation
Identify weaknesses and assess whether to improve them
Identify threats to contingency plans

Question 5

Limitations of swot

Answer 5

Vague
Does not make decisions
Doesn’t provide any actual planning