Question

A company manufacturing hockey sticks makes an annual assessment of its resources in terms of raw materials, technical expertise, and technological knowhow. It assesses the type of competition that it faces in the sports goods market and also looks out for opportunities that would allow it to expand its business. This is an example of a(n)?

Answer 1

Answer: SWOT analysis

Explanation:

SWOT is an acronym which stands for Strength Weakness Opportunities and Threats. SWOT analysis is an evaluation an individual or organization carries on themself to know their strengths, weakness and opportunities they have at a point in time also considering their existing competitions and the threat they possess.

The hockey stick production company is carrying out a SWOT analysis.

Answer 2

Answer:

SWOT Analysis

Explanation:

SWOT means Strengths, Weaknesses, Opportunities, Threats, of a business or company.

A company's strengths and weaknesses are internal — aspects one has some influence over and can alter. Examples comprise of team members, your intellectual property and trademarks, and your position of the company.

However, possibilities and threats are external — things happening in the broader market outside of your company. One can capture resources and defend from risks, but can't really alter them. Examples include rival rival companies, raw material rates, and patterns in consumer shopping.