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SWOT Analysis: A Strategic Planning Tool

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SWOT Analysis: A Strategic Planning Tool

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Questions and Answers

What is the purpose of using SWOT analysis?

To develop a marketing strategy only

To evaluate organizational performance only

To identify internal strengths and external opportunities (correct)

To identify potential partnerships and collaborations only

What does the 'S' in SWOT stand for?

Strength (correct)

Strategic

Service

Success

Why are opportunities and threats considered external factors in SWOT analysis?

Because they are directly controlled by the members of the firm

Because they are not influenced by market conditions

Because they are not fully controlled by the members of the firm (correct)

Because they have little impact on the viability of a project or business

What is one of the advantages of SWOT Analysis mentioned in the text?

Provides a clear overview of a company's current situation Signup and view all the answers

What does SWOT Analysis help companies to prioritize?

Areas for improvement Signup and view all the answers

Which type of companies can use SWOT Analysis, according to the text?

Companies of all sizes and industries Signup and view all the answers

What is a potential disadvantage of conducting a SWOT Analysis?

Time-consuming and resource-intensive process Signup and view all the answers

What is one of the main advantages of SWOT Analysis?

Identifying internal strengths and external opportunities Signup and view all the answers

When can a SWOT analysis offer helpful perspectives?

At any stage of an effort Signup and view all the answers

What does identifying opportunities for success in the context of threats help to clarify?

Directions and choices Signup and view all the answers