SWOT Analysis Is Part Of Which Of The Following?

SWOT Analysis Is Part Of Which Of The Following

Answer Of MCQ And Four (4) Parts Of SWOT Analysis

The correct answer of this multiple choice (mcq) is e. Situation Analysis because such analysis is related with the analysis of internal and external factors affecting the business. The analysis of these factors shows the Strengths (in which resources and capabilities are seen), Weaknesses (e.g., lack of satisfaction customers 'needs), Opportunities (business environment) and Threats (i.e., from competitors, business loss, etc.). This analysis is helpful for checking the business’ current position in the market and provide a guidance for strategic planning process. SWOT Analysis also shows Strengths, Weaknesses, Opportunities and Threats of the business. So, SWOT Analysis is just a part of Situation Analysis.

In Situational Analysis, both internal and external environments are evaluated. In internal environment , the internal factors such as financial resources, human resource management, technology resources, marketing team, sales team, etc., are checked to achieve the strategic goals. Proper strategic planning is required to use internal resources effectively to achieve long-term goals. The company also need to make analysis of external environment which include external factors such competitors, economic and political factors, etc. in order to compete in the marketplace and explore opportunities surrounded in the external environment. A company can control itself internally but externally, it has not control over its competitors or economy.

Doing a situational analysis, a company must also do a SWOT Analysis as it is related with internal factors and external factors. Internal factors include Strengths and weaknesses which a company can control. Strengths include strong financial position, highly skilled staff, quality products or services. A company weaknesses may include unskilled workers, lack of use of technology and innovation, etc. External factors include Opportunities and Threats which a company can't control. Opportunities include increase demand of new products & services, new explorations, expansion and growth in the marketplace, etc. Threats include depression period, competition from competitors which may have competitive advantage over the company in the same industry.

Test Your Knowledge:

Which Of The Following Are Not Parts Of A SWOT Analysis?

A). Strengths  B). Tactics C). Opportunities D). Weaknesses  E). Opposition  F). Segmentation G). Threats

Answer: B), E) and F) are not parts of SWOT Analysis.

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