Fundamentals of Business Intelligence (FBI) Practice Exam

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Which of the following accurately defines SWOT Analysis?

Strengths, Weaknesses, Outcomes, Targets
Strengths, Weaknesses, Options, Transactions
Strengths, Weaknesses, Opportunities, Threats
Speed, Weakness, Opportunities, Threats

The correct answer is: Strengths, Weaknesses, Opportunities, Threats

SWOT Analysis is a strategic planning tool used to identify and analyze the internal and external factors that can influence the success of a project or business. The correct definition includes Strengths, Weaknesses, Opportunities, and Threats. Strengths refer to internal attributes and resources that support a successful outcome. Weaknesses are internal factors that might hinder performance. Opportunities point to favorable external factors that could be leveraged for growth, while Threats are external challenges that could pose risks to success. This framework helps organizations understand their competitive position and develop strategies that capitalize on their strengths and opportunities while addressing their weaknesses and threats. Understanding these elements is crucial for effective decision-making and strategic planning in any business context. The other choices include incorrect terms that do not align with the standard definition of SWOT Analysis, making them unsuitable for this analytical tool.