Self Assessment Questions

SAQ 1

Which two of the statements below are true?

a. 

SWOT stands for Securities, Weaknesses, Opportunities, Threats.


b. 

A SWOT analysis is a good tool for taking a snapshot of a situation in order to inform a decision-making process.


c. 

A SWOT analysis should include as much information as you can find about all elements of your business.


d. 

Although often used for business decisions, a SWOT analysis can also be used for personal-development planning.


e. 

SWOT is always best when completed by just one individual.


The correct answers are b and d.

SAQ 2

Drag and drop the words below into the missing gaps in the sentences.

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SAQ 3

In the feedback to Activity 4, it was suggested that Syed could do another SWOT analysis to consider the idea of a partnership with Muhammad. Below is an example of what points this SWOT analysis might raise. For each of the points below, indicate whether they are a strength, weakness, opportunity or threat.

a. The new designs might prove to be more popular than Syed’s existing lines.

a. 

Strength


b. 

Weakness


c. 

Opportunity


d. 

Threat


The correct answer is b.

b. Syed and Muhammad create limited-edition line of products to test their relationship. This was then featured in the local newspaper, generating publicity and significant demand.

a. 

Strength


b. 

Weakness


c. 

Opportunity


d. 

Threat


The correct answer is c.

c. Both partners have good brand reputation; Muhammad’s is much more widely known than Syed’s.

a. 

Strength


b. 

Weakness


c. 

Opportunity


d. 

Threat


The correct answer is a.

d. A local businessman has started importing Bangladeshi-style puppets made in China that retail at lower prices than even Muhammad can offer.

a. 

Strength


b. 

Weakness


c. 

Opportunity


d. 

Threat


The correct answer is d.

e. Muhammad is considering renting a new factory space, near Syed’s home, as the production base for their potential collaboration.

a. 

Strength


b. 

Weakness


c. 

Opportunity


d. 

Threat


The correct answer is c.

f. Syed’s workers are worried about their job security with the expansion, damaging the usually positive atmosphere in their workroom.

a. 

Strength


b. 

Weakness


c. 

Opportunity


d. 

Threat


The correct answer is b.

g. Muhammad is investing in a new website, designed to attract export orders.

a. 

Strength


b. 

Weakness


c. 

Opportunity


d. 

Threat


The correct answer is a.