In one or two words, what is a SWOT Analysis?
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats and is used to identify and analyze a company's internal and external environment. It is a powerful tool to help businesses make decisions and assess potential risks and rewards. SWOTs are useful for business so they can better understand strengths, weaknesses, and the opportunities and threats that exist in the world around them.
What is a SWOT Analysis?
What does the acronym SWOT stand for?
- Strengths, Weaknesses, Opportunities, Threats
- Success, Wealth, Opportunities, Targets
- Systematic, Wise, Organized, Timely
Work together in pairs: Create SWOT Analysis for Nike (bulletpoint answers for each section)?
Work together in pairs: What is one way that a SWOT Analysis can help a business identify opportunities for growth?
Brain break: Draw a SWOT team walking through Onslow College
What is the purpose of a SWOT analysis?
- To identify internal strengths and weaknesses that can be used or improved upon to address external opportunities or threats.
- To identify competitors in the market.
- To create a financial forecast for the business.
In which stage(s) of strategic planning is SWOT analysis typically used?
- Both during initial strategic planning as well as during periodic reviews.
- Only during initial strategic planning.
- Only when there are major changes in the business environment.