A _____ evaluates a firm's strengths and weaknesses and attempts to define the major opportunities and threats the firm is likely to face.

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A SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis evaluates a firm's internal strengths and weaknesses and external opportunities and threats. It helps managers formulate strategies based on the organization's unique characteristics and the conditions it faces. A mission statement describes the organization's purpose and values. A matrix is a tool used to analyze data, and a contingency plan outlines alternative courses of action to be taken if circumstances change.

A _____ Evaluates a Firm's Strengths and Weaknesses and Attempts