Business Management and Enterprise (Year 12)
A SWOT analysis is a method of analysing a business’ competitive position and is composed of four main components:
These entail what a business does well and relates to the internal aspect of a firm:
A firm's expertise in certain fields, such as marketing, operations and more
Ability to produce innovative goods and services
Quality processes and procedures
Other unique selling points (USPs)
2. Weaknesses (internal)
These refer to what a business does poorly and revolves around the internal aspect of a business:
Lack of expertise in certain fields
Undifferentiated goods and services, when compared with competitors or past performance
Weak brand image
3. Opportunities (external)
These refer to external initiatives that can place a business in a stronger, more competitive position.
The market for a particular product may be growing
New technology in the space of that market
Competitors going out of business
4. Threats (external)
These are any external factors that can be harmful for a business:
Social perception and brand image, which is easily influenced through social media
Natural disasters and unexpected shocks, like pandemics
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