BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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build on its weaknesses
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remedy the weaknesses or work around them
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take advantage of the opportunities presented by the environment
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protect the firm from the threats
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Detailed explanation-1: -SWOT Analysis is a framework used to assess the competitive position of a company with respect to internal, external factors and future potential. It is an acronym that stands for Strengths, Weaknesses, Opportunities and Threats and is commonly used for strategic planning and decision making.
Detailed explanation-2: -SWOT analysis is a framework for identifying and analyzing an organization’s strengths, weaknesses, opportunities and threats. These words make up the SWOT acronym. The primary goal of SWOT analysis is to increase awareness of the factors that go into making a business decision or establishing a business strategy.
Detailed explanation-3: -A SWOT analysis helps you assess internal factors that might affect your business (strengths and weaknesses) and external factors (opportunities and threats). You will need to review and act on the results from the SWOT analysis.
Detailed explanation-4: -SWOT (strengths, weaknesses, opportunities, and threats) analysis is a method for identifying and analyzing internal strengths and weaknesses and external opportunities and threats that shape current and future operations and help develop strategic goals. SWOT analyses are not limited to companies.
Detailed explanation-5: -Essentially, a SWOT analysis is an examination of the internal and external factors that impact the organization and its strategies. The internal factors are strengths and weaknesses; the external factors are opportunities and threats.