An effective strategy derives from maximizing a firm's strengths and opportunities and minimizing its weaknesses and threats.

Question

Quizplus · Accepted Answer

This statement accurately reflects the concept of a SWOT analysis, which is a tool used by firms to identify their internal strengths and weaknesses, as well as external opportunities and threats. Once these factors are identified, the firm can develop strategies that leverage their strengths and opportunities while mitigating their weaknesses and threats.

An Effective Strategy Derives from Maximizing a Firm's Strengths and Opportunities