BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A strategic world opportunity technique
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An analysis that looks at an organization’s strengths, weaknesses, opportunities, and teamwork
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A strategic work and opportunity technique
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An analysis that looks at an organization’s strengths, weaknesses, opportunities, and threats
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Detailed explanation-1: -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-2: -SWOT Analysis helps you to identify your organization’s Strengths, Weaknesses, Opportunities, and Threats. It guides you to build on what you do well, address what you’re lacking, seize new openings, and minimize risks. Apply a SWOT Analysis to assess your organization’s position before you decide on any new strategy.
Detailed explanation-3: -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-4: -A SWOT analysis helps you assess internal factors that might affect your business (strengths and weaknesses) and external factors (opportunities and threats).
Detailed explanation-5: -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.