3.1.3 SWOT analysis

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A-Level Business

Edexcel

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5 Terms

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internal audit

an analysis of the business itself and how it operates → identifies strengths and weaknesses

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swot areas included

HR, products (costs, quality and development), finance, production, internal organisation

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external audit

analysis of the environment in which the business operates in → market, competition, PESTLE C

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SWOT

Strengths → positive aspects of the business

weaknesses → negative aspects of the business

opportunities → external audit shows what is available to boost the business

costs → external audit shows what threats could attack the business

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