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.
 

 

NA
Answered by Nour A. Business Studies tutor

4616 Views

See similar Business Studies IB tutors

Related Business Studies IB answers

All answers ▸

(based on a case study) Should Shane outsource his employee training programme


In the context of The Imperial, distinguish between internal recruitment and external recruitment.


Anne and Mary invest 4000 in their own projects. They get 400 and 600 cash flow annually, respectively. However, Mary's cash flows are to be discounted by 8%. Who has the shorted pay back period? Why is Mary's cash flow prediction more reliable?


Should I always plan my essays during exams, even when there is not a lot of time available?


We're here to help

contact us iconContact ustelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

© MyTutorWeb Ltd 2013–2025

Terms & Conditions|Privacy Policy
Cookie Preferences