By understanding the weaknesses of your business, you can manage and eliminate threats that would otherwise catch you unawares.
A.
True
B.
False
2.
SWOT stands for Success, Weakness, Opportunities and Threats.
A.
True
B.
False
3.
By looking at yourself and your competitors using the SWOT framework, you can start to craft a strategy that helps you distinguish yourself from your competitors, so that you can compete successfully in your market.
A.
True
B.
False
4.
You can use it in two ways - as a simple icebreaker helping people get together to "kick off" strategy formulation, or in a more sophisticated way as a serious strategy tool.
A.
True
B.
False
5.
Strengths and weaknesses are often internal to your organisation, while opportunities and threats generally relate to external factors.
A.
True
B.
False
6.
The SWOT Analysis is sometimes called Inside – Outside analysis.
A.
True
B.
False
7.
Useful opportunities can come from such things as changes in technology and markets on both a broad and narrow scale.
A.
True
B.
False
8.
PEST Analysis stands for political, economic, social and terminology.
