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Business Objectives and Strategy

SWOT analysis

  • 4 things to know
  • Paper 2 and Paper 3

Overview

Strengths, weaknesses, opportunities and threats, which of them are internal and which external, and what the analysis is and is not good for.

What you need to know

Answer each one before you reveal it.

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Key term

What is SWOT analysis, and what are strengths and weaknesses?

Evaluation

Which internal factors appear in a SWOT analysis?

Numbers

How might market trends appear in the external section of a SWOT analysis?

Numbers

In what way do economic conditions form part of the external analysis in SWOT?

Questions from this subtopic

Each one with the model answer underneath.

  1. 1

    What is SWOT analysis?

    Model answer

    A strategic planning tool that evaluates an organisation's internal strengths and weaknesses alongside external opportunities and threats.

  2. 2

    In the context of SWOT, what are strengths?

    Model answer

    Internal positive attributes and resources that give a business advantages over competitors.

  3. 3

    How are weaknesses defined in a SWOT analysis?

    Model answer

    Internal negative factors or limitations that place a business at a disadvantage relative to competitors.

  4. 4

    What does the term 'opportunities' refer to in SWOT analysis?

    Model answer

    External favourable conditions or trends in the environment that a business could exploit to its advantage.

  5. 5

    Define 'threats' as used in SWOT analysis.

    Model answer

    External unfavourable conditions or trends that could negatively impact business performance.

  6. 6

    Why are strengths and weaknesses classified as internal considerations in SWOT?

    Model answer

    Because they arise from within the organisation and are largely within its control.

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