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Explain the term ‘SWOT analysis’ - Leaving Cert Business - Question 7 - 2011
Question 7
Explain the term ‘SWOT analysis’. SWOT analysis is an analytical tool used to assess the internal and external environment of a business. It helps identify the org... show full transcript
Worked Solution & Example Answer:Explain the term ‘SWOT analysis’ - Leaving Cert Business - Question 7 - 2011
Step 1
Outline two benefits of preparing a business plan.
Answer
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Securing Financing: A well-prepared business plan can help obtain funding from lenders by demonstrating a clear strategy for using the funds and achieving profitability.
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Guiding Management Decisions: A business plan serves as a roadmap for the business, helping to make informed decisions and keeping the team focused on the objectives.
Step 2
Outline two advantages for SuperDeli of having a website.
Answer
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Increased Visibility: A website allows SuperDeli to reach a broader audience, attracting more customers who may not know about the business through traditional means.
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24/7 Accessibility: Customers can access the website at any time to view the menu, learn about special offers, or place orders, enhancing customer convenience.
Step 3
Explain two challenges of the internet for business.
Answer
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Cybersecurity Risks: Businesses face threats such as viruses and hacking attempts that can compromise customer data, leading to financial losses and damage to reputation.
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Training Requirements: Staff need to be adequately trained in IT skills to manage online platforms effectively, which can require time and resources.
Step 4
Draft a suitable newspaper advertisement seeking a Marketing Manager.
Answer
SuperDeli
Vacancy for Marketing Manager
SuperDeli is a successful delicatessen café established in Cork in 2008. We prepare good quality fast food for both sit down and take away customers. We use locally sourced organically produced ingredients. We are in the process of expanding the business and are seeking a Marketing Manager.
The ideal candidate must have a marketing degree and a minimum of three years’ experience. SuperDeli would like highly qualified persons with experience in internet marketing to apply.
Knowledge of the catering industry is desirable and the ability to work as part of a team is essential.
Applications are to be returned by 30th June 2011 to:
Ms. Margaret Moran Human Resource Manager SuperDeli 63 Main Street Cork.
Step 5
Outline two advantages of teamwork in a business.
Answer
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Enhanced Creativity: Teamwork encourages collaboration, leading to a diversity of ideas and perspectives, which can result in innovative solutions.
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Increased Motivation: When individuals work collaboratively, they often feel more supported and recognized, which can boost overall morale and productivity.