A SWOT Analysis Should Consider the Extent of Existing Competition

question 8

True/False

A SWOT analysis should consider the extent of existing competition and the likelihood of substitute products or services as potential strengths or opportunities.

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Definitions:

Cloud Computing

The delivery of computing services over the Internet, including storage, servers, databases, networking, software, analytics, and intelligence.

Remote Server

A server located and operated from a distant location, accessible over a network, typically the internet, for various services like web hosting, data storage, or application running.

Competition

The rivalry between companies selling similar products and services with the goal of achieving revenue, profit, and market share growth.

Discretionary Income

The amount of an individual's income that is left for spending, investing, or saving after taxes and personal necessities are accounted for.