Application of SWOT Analysis

question 102

Multiple Choice

Application of SWOT Analysis
Terry had been told to reexamine the strategic niche their company held in the cosmetic industry. Top management did not want the company caught unaware of any changes occurring. Terry began reviewing a list of factors in his mind. There had been some negative publicity lately due to cosmetic testing on animals. The animals were well treated, but they were used to test new products. Positively, sales industry- wide was up 10%. Women were buying more cosmetics in general, which was nothing but good for the company. Another positive factor was their personnel. They had good people working in the company, particularly in research and development. The only other negative Terry could find was that the advertising campaign that was begun last year had not shown the results they had hoped for. Something needed to be done in that department. Terry began to compile his report.
-Having a good research and development department is a real ___________ for the company.

• A)strength
• B)money maker
• C)asset
• D)opportunity

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Definitions:

Inputs

The resources used in the production process, including raw materials, labor, and capital.

Process Flow Chart

A visual representation of the steps in a process, showing how tasks or operations are connected.

Pareto Analysis

A decision-making technique used to prioritize tasks or identify key causes of problems based on the principle that 80% of effects come from 20% of the causes.

Fishbone Diagram

A visual tool used for identifying and organizing the potential causes of a problem, typically resembling the shape of a fishbone.