Question : Which of the following is an example of an external opportunity in SWOT analysis?
Option 1: Declining market demand
Option 2: Introduction of new regulations
Option 3: Technological advancements
Option 4: High employee turnover
Correct Answer: Technological advancements
Solution : The correct answer is (c). Technological advancements
In SWOT analysis, opportunities refer to external factors or conditions that can have a positive impact on an organization's performance or strategic position. They are external circumstances that the organization can leverage to its advantage.
Technological advancements are an example of an external opportunity as they can create new possibilities, improve efficiency, enable innovation, and provide competitive advantages for organizations. Embracing and adopting new technologies can help organizations stay ahead of the competition, enhance their products or services, and explore new markets or business models.