Business Opportunities and Related Factors (Grade 10 NSC Matric Business Studies): Flashcards
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SWOT acronym stands for
SWOT acronym stands for
Strengths, Weaknesses, Opportunities, Threats
What is SWOT analysis?
What is SWOT analysis?
Strategic planning tool to help businesses make decisions
Internal factors in SWOT
Internal factors in SWOT
Strengths & Weaknesses (can be controlled by business)
External factors in SWOT
External factors in SWOT
Opportunities & Threats (outside business's control)
Examples of Strengths
Examples of Strengths
Strong customer base, well-trained staff, adequate resources
Examples of Weaknesses
Examples of Weaknesses
Bad reputation, financial difficulties, lack of trained staff
Examples of Opportunities
Examples of Opportunities
Strategic partnerships, winning tenders, new product development
Examples of Threats
Examples of Threats
Economic, political, environmental, legal factors
Benefits of SWOT analysis
Benefits of SWOT analysis
Cost-effective, quick, helps decision-making, gives big picture
Limitations of SWOT analysis
Limitations of SWOT analysis
Limited scope, no prioritisation, no solutions provided