ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Sales, Water, Outer and Tents
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Strengths, Weaknesses, Opportunities and Threats
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Shoes, Watches, Outerwear and Ties
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None of the above
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Detailed explanation-1: -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-2: -A strength is a resource or capacity the organisation can use effectively to achieve its objectives. A weakness is a limitation, fault, or defect in the organisation that will keep it from achieving its objectives. An opportunity is any favourable situation in the organisation’s environment.
Detailed explanation-3: -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.