Question

If a business conducts a SWOT analysis to decide whether or not to expand, which of the following would be categorized as an "O"?

1. Increased competition in the market
2. New technological advancements
3. Changing consumer preferences
4. Potential for increased profits

Answer 1

Increased competition in the market can be categorized as an opportunity (O) in a SWOT analysis for a business considering expansion.

Step-by-step explanation:

The SWOT analysis is a strategic planning tool used by businesses to assess their strengths, weaknesses, opportunities, and threats. In this context, an "O" stands for opportunities. Opportunities refer to external factors that can benefit a business. Among the options provided, increased competition in the market can be categorized as an "O" because it presents an opportunity for the business to improve and adapt to the changing market conditions.