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20 SWOT analysis questions to ask yourself

Starting your SWOT analysis may leave you feeling stuck. You’ll wonder, what’s the most important
factor to consider? What is the least? But let’s skip the unpleasant mental block with these opening
questions.

Strengths
What are we known for?
What is our unique selling proposition?
What resources do we have readily available?
What do our customers love about our product(s)?
What are we doing that no one else is?
Read more about strengths.

Weaknesses
What do our customers dislike about our product(s)?
What are we doing poorly?
What is the competition doing much better than we are?
What resources do we lack?
What’s the main area we need to improve on immediately?
Learn more about weaknesses.

Opportunities
What new opportunities in the market are becoming available?
How is the market changing?
What opportunities did we pass, but are still available?
What would be the ideal opportunity for us?
What is the competition ignoring that we can play in our favor?
Find more about opportunities here.

Threats
Who are our competitors?
Has there been an increase in competition lately? Where and why?
What are the costs of our resources? Is it affecting our bottom line?
Are customers buying less of in our industry? Why?
Are our suppliers unreliable?

What is Personal Entrepreneurial Competencies (PECs)? The term "ENTREPRENEURIAL


COMPETENCIES" refers to the key characteristics that should be possessed by
successful entrepreneurs in order to perform entrepreneurial functions effectively.

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SWOT Analysis Quiz
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
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
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
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
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
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
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
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.
9. Who usually conducts a SWOT Analysis for a business?
A. Financial Institutions/Banks
B. Lawyers
C. Employees
D. Managers
10. How will you used the information presented in this PD?
SWOT analysis is a powerful personal development tool. Not only can it help you identify your
strengths and weaknesses, SWOT can help you discover a direction for personal and/or professional
development, as well as areas of concern for you to address

SWOT analysis is a powerful personal development tool. Not only can it help you identify your strengths
and weaknesses, SWOT can help you discover a direction for personal and/or professional development,
as well as areas of concern for you to address

How do you do a SWOT analysis?


From SWOT analysis to strategies
1. Strengths–Opportunities. Use your internal strengths to take advantage of opportunities.
2. Strengths-Threats. Use your strengths to minimize threats.
3. Weaknesses-Opportunities. Improve weaknesses by taking advantage of opportunities.
4. Weaknesses-Threats.

What is the importance of SWOT analysis?


SWOT refers to strengths, weaknesses, opportunities and threats. SWOT analysis is a
process where the management team identifies the internal and external factors that will
affect the company's future performance.