The Primary Goal of a SWOT Analysis Is to

question 49

Multiple Choice

The primary goal of a SWOT analysis is to

• A) benchmark a company's performance.
• B) force managers to think creatively rather than analytically.
• C) forecast future events.
• D) develop short-run goals.
• E) create, affirm, or fine-tune a company-specific business model.

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Definitions:

Payment to Labor

Compensation provided to workers for their labor, which can be in the form of wages, salaries, or benefits, for their contribution to production processes.

Marginal Revenue Product

The additional revenue generated by employing one more unit of a factor of production, holding all other inputs constant.

Marginal Product

The increase in output that results from employing one more unit of a specific input, while holding other inputs constant.

Labor Input

The quantity of labor employed in the production of goods and services, usually measured in hours worked or number of workers.