SWOT Analysis

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5 Terms

1
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What is a SWOT analysis?

  • Helps entrepreneurs/owners/managers understand both internal and external factors that can affect a business’ performance

2
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What is the Strengths part of SWOT analysis?

  • Internal features of the business that provide an advantage

  • e.g. loyal customer base, good location, unique product

3
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What is the Weakness part of SWOT analysis?

  • Internal limitations of the business that need improvement

  • E.g. expensive vegan ingredients, poorly trained staff

4
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What is the Opportunities part of SWOT analysis?

  • External conditions that could benefit the business

  • E.g. attract new customers, growing demand, moving on trend

5
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What is the Threats are of SWOT analysis?

  • External challenges/risks that could negatively impact that business

  • e.g. competitors have similar products, supply chain issues