What framework should you use if you want to summarize all internal and external factors and determine your company’s position against the market and competition.
Choose an answer
Tap an option to check your answer.
Correct answer: SWOT.
Why this is the answer
SWOT analysis is the correct framework because it systematically evaluates an organization's internal Strengths and Weaknesses, and external Opportunities and Threats. This comprehensive approach allows a company to understand its current position relative to the market and competitors, informing strategic planning. PEST (Political, Economic, Social, Technological) analysis focuses solely on external macro-environmental factors, not internal ones. VRIO (Value, Rarity, Imitability, Organization) analysis is used to assess a firm's internal resources and capabilities, but it doesn't incorporate external market or competitive threats and opportunities.
Pass your exam — without the endless answer hunt
Get every verified question and explanation for this exam in one place, and save hours of prep. 1,000+ certifications · 20+ languages · free to start.
Pass your exam faster → No card needed