10 Questions
What is the purpose of a SWOT analysis?
To determine challenges and opportunities in the business environments
Who originated the SWOT analysis tool?
Albert S. Humphrey
Which stage in strategic management involves ensuring clear vision, mission, and measurable goals?
Stage 1
In what ways can a business apply a SWOT analysis?
To study both internal and external environments
Why is the SWOT analysis considered a useful tool for businesses?
It helps in identifying opportunities and threats
What does a SWOT analysis help identify?
Internal elements of the business
Which of the following is an example of a weakness in a SWOT analysis?
Insufficient use of organisational resources
How are strengths and weaknesses different in a SWOT analysis?
Strengths are positive factors, weaknesses are negative factors
What should a business focus on when identifying opportunities in a SWOT analysis?
External elements favorable for the business
How should a business address its weaknesses identified in a SWOT analysis?
Take active steps to rectify them
Learn about the stages of strategic management, including how to ensure clear vision and objectives, and the importance of environmental scanning. Explore the process of identifying opportunities and threats in the three business environments.
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