ENTREPRENEURIAL OPPORTUNITIES
IDENTIFYING AND EVALUATING BUSINESS OPPORTUNITIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Performance standards for implementing the plan
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A SWOT analysis chart
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Performance standards for implementing the plan
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A list of the proposed strategies and programs
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Detailed explanation-1: -A key component of marketing and strategic planning is conducting a SWOT analysis. SWOT is the acronym for analyzing Strengths, Weaknesses, Opportunities, and Threats, and is an effective tool for developing an overall marketing strategy or planning individual campaigns.
Detailed explanation-2: -A situational analysis should examine the external and internal environment that impact a business’s performance. External factors include the economy, competitors, government policies, and regulations. Company culture, employees, business resources, and cash management are internal factors that affect a business.
Detailed explanation-3: -A SWOT analysis is a method under situation analysis that examines a company’s strengths, weaknesses, opportunities and threats, both from a current and future perspective. Ultimately, the goal of a company is to continue building on strengths while reducing weaknesses.