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Question & Answer
Choose the Best Answer
It allows the company to ignore internal issues and focus solely on competition.
It helps the company to develop strategies that mitigate its vulnerabilities while leveraging external opportunities.
It provides data that suggests the company should change its mission statement.
It enables the company to enhance its strengths without considering market challenges.
Understanding the Answer
Let's break down why this is correct
Weaknesses show where a company is vulnerable. Other options are incorrect because The idea that weaknesses let you ignore problems is wrong; Weaknesses do not automatically demand a new mission statement.
Key Concepts
SWOT Analysis
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Deep Dive: SWOT Analysis
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Definition
SWOT analysis is a strategic planning technique used to identify and understand the Strengths, Weaknesses, Opportunities, and Threats related to a business, product, or market. It helps in decision-making by assessing internal and external factors that can impact the organization's strategy and growth.
Topic Definition
SWOT analysis is a strategic planning technique used to identify and understand the Strengths, Weaknesses, Opportunities, and Threats related to a business, product, or market. It helps in decision-making by assessing internal and external factors that can impact the organization's strategy and growth.
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