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    which of the following is a condition presented by the external environment, in swot analysis?

    Mohammed

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    get which of the following is a condition presented by the external environment, in swot analysis? from screen.

    Multiple Choice Quiz

    Take the quiz test your understanding of the key concepts covered in the chapter. Try testing yourself before you read the chapter to see where your strengths and weaknesses are, then test yourself again once you’ve read the chapter to see how well you’ve understood.1. Environmental scanning is a one-off activity carried out by new companies. True or false?TrueFalseAnswer:False

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    Multiple Choice Quiz

    Take the quiz test your understanding of the key concepts covered in the chapter. Try testing yourself before you read the chapter to see where your strengths and weaknesses are, then test yourself again once you’ve read the chapter to see how well you’ve understood.

    1. Environmental scanning is a one-off activity carried out by new companies. True or false?

    True False

    2. Luxembourg is a member of the European Union. True or false?

    True False

    3. Ferry trips and air travel can be substitute products. True or false?

    True False

    4. Niche brands are sold into small, well-defined markets. True or false?

    True False

    5. The marketing function is part of an organisation’s internal environment. True or false?

    True False

    6. What does it mean if an organisation has significant economies of scale?

    It is on a tight budget.

    It is a large company with significant debts.

    Because it is a large operation, its costs per product are relatively low.

    Because it is a small operation, its product prices are relatively low.

    It is a large company with a wide range of products.

    7. How would an asset-led company make decisions on what products to sell?

    They would choose products that made best use of their existing resources.

    They would choose products that would bring in the best return on investment.

    They would choose products that would enhance the company’s image.

    They would just sell the products they already had.

    They would base their decisions on extensive market research.

    8. What does the acronym PRESTCOM stand for?

    personal, reliable, eco-friendly, sociable, true, comprehensive, open marketing

    political, regulatory, environmental, sociological, technological, customer, organisation, markets

    political, real, economic, social, technological, competition, organisational, marketing

    personal, rational, eco-friendly, social, true, creative, organisations, media

    political, regulatory, economic, social, technological, competitive, organisational, market

    9. What is the PRESTCOM analysis used for?

    market research idea development product review

    developing advertising

    environmental analysis

    10. When analysing the marketing environment, which heading should the company’s increased brand equity go under?

    political personal organisational environmental regulatory

    11. In a PRESTCOM analysis, under which heading would a change in the provisions of the Sale of Goods Act be placed?

    political regulatory social customer marketing

    12. What is the correct term for an economy that is growing, in a country with full employment, and with high business confidence in the future despite rising prices?

    bomb bust upturn swing mixed

    13. Britain has an ageing population. This trend would be identified as part of which PRESTCOM environment?

    political regulatory social environmental market

    14. In a SWOT analysis, which two elements are part of the internal environment?

    strengths and threats

    opportunities and threats

    strengths and opportunities

    weaknesses and strengths

    weaknesses and threats

    15. The first stage of a SWOT analysis is to identify relevant variables and classify them under the SWOT headings. What is the follow-on stage?

    ranking the variables in order of importance to the organisation

    organising the variables alphabetically

    prioritising the variables according to their associated costs

    classifying the variables according to PRESTCOM

    identifying the easiest variables to deal with

    16. Imagine you are conducting a SWOT analysis for a British manufacturer who exports to Thailand. If the Thai currency becomes unstable, which category would you place that in for your analysis?

    opportunity weakness economic strength threat

    17. Identify a close competitor for Walker’s crisps.

    Golden Wonder crisps

    Nobby’s nuts mashed potato Coca-Cola sunflower oil

    18. What do the three Cs of international marketing environmental analysis stand for?

    country, currency and culture

    competition, costs and culture

    culture, costs and climate

    country, climate and competition

    currency, climate and costs

    19. What is the general term given to any group or individual who can affect, or is affected by, an organisation’s activities?

    shareholders pressure groups unions stakeholders board members

    20. Often, the first significant company to move into a market becomes the market leader. What is the term for this?

    first come first served

    first mover advantage

    market first last in first out

    organisational first

    21. A SWOT analysis is used to analyse an organisation’s current ______

    22. In a SWOT analysis, ______ are external environmental trends that may be advantageous for the organisation in question.

    23. Most other soft drinks are close competitors of Coca-Cola but Pepsi would be classified as a ______ competitor.

    स्रोत : study.sagepub.com

    External Opportunities & Threats in SWOT Analysis: Examples & Definition

    SWOT analysis can procure a plan for businesses to accomplish their goals and missions. Learn the definitions of SWOT, internal and external...

    Business Courses / Course / Chapter

    External Opportunities & Threats in SWOT Analysis: Examples & Definition

    Instructor Shawn Grimsley View bio Expert Contributor Steven Scalia View bio

    SWOT analysis can procure a plan for businesses to accomplish their goals and missions. Learn the definitions of SWOT, internal and external environments, external opportunities and threats, and see an example of SWOT analysis. Updated: 09/03/2022

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    What is SWOT Analysis?

    SWOT analysis is a structured process used by an organization in developing a strategic plan for goal and mission accomplishment. SWOT analysis consists of examining an organization's strengths, weaknesses, opportunities and threats in its business environment.

    You can also think of SWOT analysis as the process of asking four important questions:

    What makes us strong?

    What makes us weak?

    What opportunities are in the marketplace upon which we can capitalize?

    What type of threats are out there that can undermine our organization, its goals, and its mission?

    SWOT explores two types of environments: the internal environment, which focuses on strengths and weaknesses, and the external environment, which focuses on opportunities and threats. Today we'll be looking at the external environment, or external opportunities and external threats.

    Quiz Course 165K views

    Opportunities and Threats

    External opportunities provide an organization with a means to improve its performance and competitive advantage in a market environment. Some opportunities can be foreseen, such as being able to expand a franchise into a new city, while some may fall into your lap, such as another country opening up its market to foreign business.

    If you can think far enough ahead, you may even be able to create some opportunities, like a chess master being able to calculate the checkmate of his opponent in five moves just by looking at the board. For example, you may be able to see the potential of new products that can be developed from emerging technology.

    External threats are anything from your organization's outside environment that can adversely affect its performance or achievement of its goals. Ironically, stronger organizations can be exposed to a greater level of threats than weaker organizations, because success breeds envy and competition to take what your organization has achieved.

    Examples of external threats include new and existing regulations, new and existing competitors, new technologies that may make your products or services obsolete, unstable political and legal systems in foreign markets, and economic downturns. Sometimes you can turn a threat into an opportunity, such as a new technology that may displace one of your key products but also provides an opportunity for new product development.

    Examples of SWOT Analysis

    Let's illustrate how these concepts work together with an example. Let's say you run a regional newspaper company. It's time for your semi-annual strategy session with your management team. As always, you use a SWOT analysis to help you get a picture of where things stand so you can develop a long-term strategy. You discuss your company's strengths and weaknesses and are ready to move on to external opportunities and threats.

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    Additional Activities

    External Opportunities & Threats in a SWOT Analysis - a Business Case

    The following business case will allow you to apply your knowledge of the external portion of the SWOT analysis as well as explain its usefulness to a company that's looking to make major strategic decisions.

    Imagine you're the head consultant at ABC Consulting, Inc, a firm that specializes in management consulting in a handful of industries. Your latest client, Big Wheels Co., is an electric car manufacturer that's looking to revamp its entire business. Before making such a drastic decision, they ask for a SWOT analysis. Your research associate has compiled a list of facts (presented below), and as the head consultant, you need to identify whether these are external opportunities, external threats, or neither.

    Item Opportunity/Threat/Neither

    Consumers are projected to increase their demand by 10,000% for electric cars by 2025.

    A major competitor has just raised billions of dollars in an effort to reduce its unit cost.

    Big Wheels Co. just hired a CEO that's considered a catalyst in the electric car industry.

    Governments have commented recently that they're looking to regulate electric cars due to safety concerns.

    Big Wheels Co. recently lost its key marketing officer who felt overwhelmed and quit his job.

    Required:

    Classify the items in the listing and briefly explain how knowing this information can help Big Wheels Co. make strategic decisions.

    Solution:

    Item Opportunity/Threat/Neither

    Consumers are projected to increase their demand by 10,000% for electric cars by 2025. Opportunity

    A major competitor has just raised billions of dollars in an effort to reduce its unit cost. Threat

    स्रोत : study.com

    External Environment SWOT Analysis

    External Environment SWOT Analysis. A SWOT analysis is a comprehensive look at a company's strengths and weaknesses, or internal factors, as well as external factors it faces in the market. A company usually starts a SWOT analysis by studying its strengths, such as a strong brand name or good reputation, and ...

    External Environment SWOT Analysis

    Small Business |

    Advertising & Marketing

    | SWOT Analysis

    By M.T. Wroblewski Updated September 25, 2020

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    How to Compose a Comprehensive SWOT Analysis

    You may have been so consumed with writing the marketing plan for your business that you glossed over one minor but crucial detail: The all-important SWOT analysis is no do-it-once-and-you're-done exercise.

    In fact, if some sort of big change is on the horizon for your small business – even if your gut instinct alone is telling you so – dusting off that analysis and updating it is exactly what you should do. But this time, focus only on the external elements: the opportunities and threats that may loom ahead. Doing so could expose the details you need to help you navigate that big change with confidence.

    Revisit the SWOT Analysis of Your Company

    There's no need to flush with guilt if you undertook a SWOT analysis of your company only because the marketing plan forced your hand. Marketing plans are time-intensive, reflective undertakings, and the SWOT analysis is – you may recall – only a small piece of what can be a voluminous guiding document.

    But it's a rare small-business owner who doesn't admit, in retrospect, that the SWOT analysis can be a hugely valuable tool that often exposes a few insightful nuggets of information. And these nuggets can surface in either of the two parts: The analysis of a business' internal strengths and weaknesses or its external opportunities and threats.

    There is no doubt that the former part is easier, if only because strengths and weaknesses are obvious and well known (or should be). By contrast, external opportunities and threats can range from blatantly obvious to an utter mystery.

    Since your original SWOT analysis was part of your marketing plan, it probably helped you develop a business and marketing strategy, provided insights about your competitors and maybe even provided fodder for your first marketing campaign. These needs are likely still relevant to your small business today, even if in a latent way. This is why a SWOT analysis never loses its relevance, either. And it's why many business experts recommend that small-business owners repeat the exercise once a year and focus on external influences when they are:

    Interested in surveying the marketplace

    Mulling a major change in product or service offerings

    Weighing the repercussions of new procedures or policies that will affect customers

    Seeking affirmation before making a major investment in the business

    Considering a merger or acquisition

    Uncertain about how to act (or react) to a major strategic shift by a competitor

    Expand Your Options

    If you completed your original SWOT analysis on your own, you didn't have to. In fact, the U.S. Small Business Administration says the process can be more illuminating if you use a combination of methods, such as:

    Holding a brainstorming session with your staff

    Convening a focus group with your best customers

    Scouring recent customer reviews for insights

    Interviewing industry leaders and thought leaders, who may be so flattered you asked that they eagerly share their best forecasts

    Before you gather a crowd around you, be sure that they understand the nature of external influences. As LivePlan says, “You can take advantage of opportunities and protect against threats, but you can’t change them.” Business News Daily says external factors may be directly or indirectly related to opportunities and threats and may include, but are not limited to:

    Major changes in client needs, habits or demographics

    Significant increases in the price of materials

    Economic, political or environmental upheavals

    Legal or regulatory changes

    Technology updates

    New procedures from suppliers

    The arrival of new competitors

    Evaluate External Opportunities and Threats

    These factors beg an obvious list of followup questions, which means your partial SWOT analysis should be off to a good start. Keep the momentum going by asking a series of questions about external opportunities – the thought being that one question should trigger several more:

    How could you capitalize or expand upon your best-selling product or service?

    What ideas do your customers have on this front?

    What other needs or wants could you fulfill for your customers?

    What buying trends could encourage customers to buy more from you, or at least more often?

    What marketing automation or customer relationship tools are out there that are worth investigating?

    How could you leverage promotion and publicity to enhance your marketing efforts?

    You get the idea: Leave no stone unturned in your quest to reveal opportunities. When you come up dry, move on to the threats portion, and do so with both eyes open, literally and figuratively. Try to remember that rather than feeling like a victim to forces that could harm your business, being proactive will help you prepare for them so that you can neutralize their effect. (And doesn’t this sound like an opportunity in disguise?) Keep the positive thoughts going by asking:

    What do leading economists say is the worst that will happen to the economy over the next six months to a year?

    स्रोत : smallbusiness.chron.com

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    Mohammed 13 day ago
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