Using a SWOT analysis to make a business decision

NSW Commerce Stage 5 50

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Introduction

Students learn to use a SWOT analysis to select a hypothetical business to start. In doing so, they identify external opportunities and threats such as the target market, location, demographics and competition.

This activity contributes to the following outcomes.

A student:

  • applies consumer, financial, economic, business, legal, political and employment concepts and terminology in a variety of contexts COM5-1
  • analyses key factors affecting decisions COM5-4
  • explains information using a variety of forms COM5-8
  • works independently and collaboratively to meet individual and collective goals within specified timeframes COM5-9

Related Stage 4 outcomes: COM4-1, COM4-4, COM4-8, COM4-9

Related Life Skills outcomes: COMLS-12, COMLS-13

Content descriptions

Option 4: Running a Business

Planning for success

Students:

  • examine the key considerations involved when planning and organising a small business, including: (ACHEK019, ACHEK030)
    • opportunities to run a small business, for example market research, location, demographics, competition, target markets.

Teacher resources

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Visualiser

SWOT analysis

Student learning resources

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Worksheet

Which business will I choose?

Suggested activity sequence

This sequence is intended as a framework to be modified and adapted by teachers to suit the needs of a class group.

  1. Display and explain how to conduct a SWOT analysis using the visualiser.
  2. Students individually complete the worksheet.
  3. Discuss with students which business venture they chose and why.