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For an Australian importer, which of the following would be classified as an opportunity in a SWOT analysis? (A) Highly trained staff (B) Increased competition (C) Strong brand recognition (D) Appreciation of the Australian dollar - HSC - SSCE Business Studies - Question 9 - 2011 - Paper 1
Question 9
For an Australian importer, which of the following would be classified as an opportunity in a SWOT analysis? (A) Highly trained staff (B) Increased competition (C) ... show full transcript
Worked Solution & Example Answer:For an Australian importer, which of the following would be classified as an opportunity in a SWOT analysis? (A) Highly trained staff (B) Increased competition (C) Strong brand recognition (D) Appreciation of the Australian dollar - HSC - SSCE Business Studies - Question 9 - 2011 - Paper 1
Step 1
Identify opportunities in SWOT analysis
Answer
In the context of a SWOT analysis, opportunities refer to favorable external factors that could contribute to an organization's growth or success. For an Australian importer, this would involve conditions or trends in the environment that could enhance their business operations.
Step 2
Evaluate each option
Answer
- Highly trained staff: This is an internal strength rather than an opportunity.
- Increased competition: This is generally viewed as a threat, as it could impact market share and pricing strategies.
- Strong brand recognition: This is also an internal strength and indicates existing market success rather than an external opportunity.
- Appreciation of the Australian dollar: This can be seen as an opportunity for importers, as it means that imports may become cheaper, potentially increasing profit margins and market versatility.
Step 3