Strategic Management: Stages and Environmental Analysis
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Questions and Answers

What is the purpose of a SWOT analysis?

  • To create a vision and mission for the business
  • To conduct environmental scanning and analysis
  • To measure the goals and objectives of the business
  • To determine challenges and opportunities in the business environments (correct)

    • Who originated the SWOT analysis tool?

  • Peter Drucker
  • Albert S. Humphrey (correct)
  • Henry Mintzberg
  • Michael Porter

    • Which stage in strategic management involves ensuring clear vision, mission, and measurable goals?

  • Stage 4
  • Stage 3
  • Stage 2
  • Stage 1 (correct)

    • In what ways can a business apply a SWOT analysis?

    <p>To study both internal and external environments</p> Signup and view all the answers

    Why is the SWOT analysis considered a useful tool for businesses?

    <p>It helps in identifying opportunities and threats</p> Signup and view all the answers

    What does a SWOT analysis help identify?

    <p>Internal elements of the business</p> Signup and view all the answers

    Which of the following is an example of a weakness in a SWOT analysis?

    <p>Insufficient use of organisational resources</p> Signup and view all the answers

    How are strengths and weaknesses different in a SWOT analysis?

    <p>Strengths are positive factors, weaknesses are negative factors</p> Signup and view all the answers

    What should a business focus on when identifying opportunities in a SWOT analysis?

    <p>External elements favorable for the business</p> Signup and view all the answers

    How should a business address its weaknesses identified in a SWOT analysis?

    <p>Take active steps to rectify them</p> Signup and view all the answers

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