
SWOT Analysis and Legal aspects of Business Management Warm-Ups 10/31/24
Quiz by Nekeisha King-Price
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10 questions
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- Q1What is the primary purpose of a SWOT analysis in business management?To create financial statementsTo identify strengths, weaknesses, opportunities, and threatsTo understand consumer behaviorTo design marketing strategies30s
- Q2Which legal document is essential for forming a corporation?Sales ContractPartnership AgreementArticles of IncorporationLease Agreement30s
- Q3What is a common benefit of conducting a SWOT analysis before launching a new product?It guarantees financial successIt determines product pricingIt eliminates competitionIt helps to identify potential market challenges30s
- Q4Which of the following is a potential threat identified in a SWOT analysis?Strong brand reputationIncreased competition in the marketA loyal customer baseInnovative product features30s
- Q5What is the primary purpose of a business license?To legally authorize a business to operateTo hire employeesTo increase profitsTo assess competition30s
- Q6Which aspect of business law focuses on the agreements made between two or more parties?Corporate lawIntellectual property lawContract lawEmployment law30s
- Q7What is the role of a business plan in conjunction with a SWOT analysis?To detail employee responsibilitiesTo serve as a financial reportTo outline strategies based on identified strengths and weaknessesTo record customer feedback30s
- Q8In a SWOT analysis, what do strengths refer to?Internal factors that give an organization an advantageExternal challengesMarket trendsFinancial losses30s
- Q9Which legal concept protects inventors and their inventions?CopyrightTrademarkFranchisePatent30s
- Q10Which of the following is NOT a component of SWOT analysis?WeaknessesValue PropositionStrengthsOpportunities30s