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10 Multiple choice questions with their answer key on the topic of SWOT Analysis.
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Name: KEY
A 1. Which of the following SWOT elements are internal factors for a business? A. Strengths and Weaknesses B. Opportunities and Threats C. Strengths and Opportunities D. Weaknesses and Threats C 2. Which of the following is false regarding why a SWOT Analysis is used? A. To build on the strengths of a business B. To minimize the weaknesses of a business C. To reduce opportunities available to a business D. To counteract threats to a business B 3. How often should a SWOT Analysis be performed? A. Only when specific issues need to be addressed B. At least once per year C. Only when the business starts D. Every 3-5 years D 4. Which of the following could be a strength? A. Weather B. A new international market C. A price that is too high D. The location of a business C 5. Which of the following could be a weakness? A. A developing market such as the Internet B. Competitors with access to better channels of distribution C. Poor quality of goods and services D. Special marketing expertise B 6. Which of the following could be an opportunity? A. Having quality processes and procedures B. Moving into new market segments that offer improved profits C. Damaged reputation D. A new competitor in your home market A 7. Which of the following could be a threat? A. Changes in technology B. A market vacated by an ineffective competitor C. Location of your business D. Lack of marketing expertise
Name: KEY C 8. Which of the following is true about preparing a SWOT Analysis? A. It should focus on where the organization is today, not where it could be in the future. B. A SWOT Analysis is objective C. It should be specific and avoid grey areas D. It should analyze the organization only and ignore the performance of competitors. D 9. Who usually conducts a SWOT Analysis for a business? A. Financial Institutions/Banks B. Lawyers C. Employees D. Managers Answers Will Vary