MYTUTOR SUBJECT ANSWERS

751 views

What is a SWOT analysis and how does it help the business?

A swot analysis is an evaluation tool for companies to measure their performance at an internal and external level, and seek for potential improvements or expansions of their business.
SWOT consists of four elements
1- Strengths- an internal analysis of the business' core competencies and the characteristics/factors which make their brand strong and give it a competitive advantage
2- Weaknesses- an internal analysis of the business' characteristics and factors which place the business at a lower level than its competitors (factors that need to be improved)
3-Opportunities- an external analysis of the business' potential opportunities within the market in terms of growth or expansion
4- Threats- an external analysis of the business' negative elements within its environment such as competition, market exclusion
A SWOT analysis helps a business evaluate its environment and helps with planning future objectives/projects.
 

 

Nour A. IB Business Studies tutor, GCSE Maths tutor, GCSE Business St...

2 years ago

Answered by Nour, an IB Business Studies tutor with MyTutor


Still stuck? Get one-to-one help from a personally interviewed subject specialist

5 SUBJECT SPECIALISTS

£36 /hr

Liam B.

Degree: Global Politics (Masters) - Durham University

Subjects offered:Business Studies, Politics+ 4 more

Business Studies
Politics
ICT
Government and Politics
Accounting
-Personal Statements-

“Education University of Durham (2016 – 2017) MSc. Global Politics Key Skills gaining:  Flexibility: demonstrated through responsiveness and collaboration in group projects.  Self-Awareness: through a higher level of academic expecta...”

£26 /hr

Carla C.

Degree: International Management (Bachelors) - Warwick University

Subjects offered:Business Studies, Spanish+ 1 more

Business Studies
Spanish
English Language

“Enthusiastic tutor from Barcelona studying at the University of Warwick, I will help you make your IB EXCELENTE!”

£20 /hr

Modupeola A.

Degree: Accounting and Finance (Bachelors) - Edinburgh University

Subjects offered:Business Studies, English Literature+ 4 more

Business Studies
English Literature
Economics
Accounting
-Personal Statements-

“I am a part-time tutor studying Accounting and Finance at the University of Edinburgh. I look forward to working with you to achieve your target grades.”

About the author

£20 /hr

Nour A.

Degree: Business Management (Bachelors) - Cardiff University

Subjects offered:Business Studies, Maths

Business Studies
Maths

“ I am a patient individual, keen on detail and very dedicated in my work always trying to enjoy what I do.”

MyTutor guarantee

|  15 completed tutorials

You may also like...

Other IB Business Studies questions

How can the BCG Matrix be applied to a high street retail business?

What is Charles Handy’s Shamrock Organization and how does it increase flexibility in the workforce?

What are the advantages and disadvantages of a sole trader business model?

How do I apply motivation theories in essay-based exam questions?

View IB Business Studies tutors

We use cookies to improve your site experience. By continuing to use this website, we'll assume that you're OK with this. Dismiss

mtw:mercury1:status:ok