Question

In a SWOT Analysis, the primary objective of managers participating in this exercise is to:a. identify strategies that exploit external opportunities, counter threats, build on strengths, and eradicate weaknesses. b. utilize a consultant group to gain an outside perspective on how the company's strategies can be improved. c. impress the CEO and other leaders in the organization with their knowledge and strategic decision making. d. define at least two future states of the company and build strategies that address those specific scenarios.

Answer 1

Answer:

a. identify strategies that exploit external opportunities, counter threats, build on strengths, and eradicate weaknesses.

Explanation:

SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats.

It is used to assess an organization's competitive strength and to devise strategies accordingly.

Strengths relate to an organization's specialization which provides a competitive edge to it.

Weaknesses refer to shortcomings or limitations of an organization. Weaknesses could be inherent.

Opportunities refer to favorable situations available at the disposal of the organization which it must seize immediately.

Threats relate to dangers arising out of changes in the business environment.

The aim of SWOT analysis activity is to come up with those strategies which make the most out of available opportunities, overcome threats, further build up strengths and eliminate weaknesses.