Learning Path
Question & Answer1
Understand Question2
Review Options3
Learn Explanation4
Explore TopicChoose the Best Answer
A
SWOT Analysis
B
PEST Analysis
C
Fishbone Diagram
D
Benchmarking
Understanding the Answer
Let's break down why this is correct
Answer
The most effective technique for spotting both internal strengths and external opportunities is SWOT analysis, which stands for Strengths, Weaknesses, Opportunities, and Threats. By first listing what the company does well (strengths) and where it can improve (weaknesses), then looking at market trends, competitors, and customer needs (opportunities and threats), it gives a balanced view of the business landscape. This method forces you to link what you already control internally to what is happening outside, so you can decide which strengths can be used to seize new chances. For example, a tech startup might find strong R&D skills (strength) and a growing demand for AI tools (opportunity), showing a clear path to expand its product line.
Detailed Explanation
SWOT looks at four parts: Strengths and Weaknesses inside the firm, and Opportunities and Threats outside. Other options are incorrect because PEST only lists external big‑picture forces like politics, economy, society and tech; A Fishbone Diagram shows why a problem happens.
Key Concepts
SWOT Analysis
Business Strategy
Performance Improvement
Topic
Business Analysis Techniques
Difficulty
medium level question
Cognitive Level
understand
Practice Similar Questions
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