which of the following describes what a firm looks for when doing a SWOT analysis
possible future conditions the firm may face
the firms may key resources and capabilities
the two most likely actions of competors
environment oppurtunites that match internal strengths
All of the options mentioned can be considered when a firm performs a SWOT analysis. However, if you are asked to choose just one option, the most appropriate choice would be:
- Possible future conditions the firm may face
A SWOT analysis involves identifying the firm's internal strengths and weaknesses, as well as external opportunities and threats. By assessing possible future conditions, the firm can anticipate potential changes in the market, industry, or competitive landscape and strategize accordingly. The analysis helps the firm understand how to leverage its strengths, mitigate weaknesses, take advantage of opportunities, and counter threats in the future.
When conducting a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis, a firm typically looks for the following:
1. Possible future conditions the firm may face: This involves analyzing potential external factors that could impact the firm's operations and performance in the future, such as changes in the market, industry trends, political or regulatory developments, economic conditions, technological advancements, and social factors.
2. The firm’s key resources and capabilities: This includes evaluating the internal strengths and weaknesses of the organization. This step involves identifying and assessing the company's resources, capabilities, and core competencies, which can range from its financial position, infrastructure, technology, human resources, brand reputation, intellectual property, market knowledge, and other strategic advantages.
3. The two most likely actions of competitors: This aspect focuses on analyzing the competitors in the industry and understanding their strengths, weaknesses, strategies, and potential actions. It helps the firm identify potential threats and competitive pressures they may face, such as new product launches, pricing strategies, marketing campaigns, expansion plans, or changes in customer preferences.
4. Environmental opportunities that match internal strengths: This involves identifying external opportunities that align with the company's internal strengths. By analyzing the market and industry conditions, the firm can identify potential opportunities for growth, new markets to enter, mergers or acquisitions, partnerships or collaborations, and other strategic initiatives that leverage their core competencies.
Overall, a SWOT analysis provides a comprehensive evaluation of the firm's internal strengths and weaknesses, while also considering the external opportunities and threats that may impact its performance and future prospects.
A firm looks for various factors when conducting a SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats). Among the given choices, the two that describe what a firm looks for in a SWOT analysis are:
1. Possible future conditions the firm may face: To understand the external factors that may impact the firm's performance, such as market trends, economic conditions, technological advancements, regulatory changes, and so on. By identifying potential future conditions, the firm can anticipate challenges and plan accordingly.
2. The firm's key resources and capabilities: Evaluating the internal strengths and weaknesses of the firm, including its resources (such as financial, human, physical, and intellectual) and capabilities (such as technical expertise, managerial skills, research, and development). Analyzing these factors helps the firm determine its competitive advantage and areas where improvements are needed.
While the other options mentioned in the question (the two most likely actions of competitors and environment opportunities that match internal strengths) can be relevant considerations, they are not the primary focus in a typical SWOT analysis.