BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Detailed explanation-1: -Opportunities and threats are external-things that are going on outside your company, in the larger market. You can take advantage of opportunities and protect against threats, but you can’t change them. Examples include competitors, prices of raw materials, and customer shopping trends.
Detailed explanation-2: -A SWOT analysis helps you assess internal factors that might affect your business (strengths and weaknesses) and external factors (opportunities and threats).
Detailed explanation-3: -External factors include opportunities and threats that are outside of the organization. These are factors that the company may be able influence-or at least anticipate-but not fully control. Examples of external factors include the following: Technology innovations and changes.
Detailed explanation-4: -We use the word “opportunity” to describe an upside risk with positive impacts, and “threat” is used for downside risks with negative consequences.