SWOT Vocabulary Review

Knowledge, ability, or expertise in a specific subject area.

• Core Competency

• Skill Gap

• General Knowledge

• Basic Understanding

Favorable external factors for carrying out a business function, beyond the control of the organization.

• Threats

• Opportunities

• Weaknesses

• Strengths

Negative external factors affecting businesses, beyond their control.

• Opportunities

• Strengths

• Threats

• Weaknesses

Applying and comparing an organization’s analysis to that of its competitors.

• Competitor Evaluation

• Market Analysis

• SWOT Analysis

• Competitive Benchmarking

Condition where a company operates more efficiently or at a higher quality than competitors.

• Competitive Disadvantage

• Market Share

• Competitive Advantage

• Operational Efficiency

Design for a company to reach long-term goals through planning, organizing, execution, and controlling activities.

• Tactics

• Strategy

• Operations

• Management

Internal factors that can be controlled within the business.

• Weaknesses

• Opportunities

• Strengths

• Threats

Process of attracting potential customers to an organization’s products and services.

• Sales

• Advertising

• Marketing

• Public Relations

Route a product or service takes from producer to consumer.

• Distribution Channel

• Marketing Strategy

• Supply Chain Management

• Consumer Behavior

Includes all goals, strategies, and actions foreseen to ensure survival and growth of an organization.

• Business Planning

• Market Analysis

• Financial Forecasting

• Operational Management