8 Questions
What is a SWOT analysis?
A SWOT analysis is a strategic planning technique used to evaluate the strengths, weaknesses, opportunities, and threats of a business or project.
What are the four components of a SWOT analysis?
The four components of a SWOT analysis are strengths, weaknesses, opportunities, and threats.
Why is a SWOT analysis important?
A SWOT analysis is important because it helps organizations identify their internal strengths and weaknesses, as well as external opportunities and threats, which can inform strategic decision-making and planning.
What is the definition of business environment?
The totality of physical and social factors that are taken directly into consideration in the decision-making behaviour of individuals in the organisation.
What are the three levels of the environment?
Internal environment, external micro environment, and external macro environment.
What does the internal environment refer to?
The internal elements of the organisation used to create, communicate and deliver market offerings.
What does the external micro environment refer to?
Local forces that affect an organization's ability to serve its customers.
What does the external macro environment refer to?
Larger societal forces that affect the survival of the organization, including the demographic environment, the political environment, the cultural environment, the natural environment, the technological environment, and the economic environment.
Test your knowledge on SWOT analysis with this quiz! Learn about the four key components of a SWOT analysis and understand why this strategic tool is important for businesses and decision-making.
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