A frequently used tool that helps assess the firm's current position in the marketplace is called
A) A SWOT analysis.
B) A strategy.
C) A vision statement.
D) A mission statement.

Question

Quizplus · Accepted Answer

A SWOT analysis is a commonly used tool to assess a firm's current position in the marketplace. It helps to identify the company's internal strengths and weaknesses as well as external opportunities and threats. By analyzing these factors, the company can develop a strategy to leverage its strengths, address its weaknesses, capitalize on opportunities, and mitigate threats. Mission and vision statements are statements of a company's goals and aspirations, while a strategy is a plan of action to achieve those goals.

A Frequently Used Tool That Helps Assess the Firm's Current