Using a SWOT analysis to make a business decision
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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.
Australian Curriculum or Syllabus
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
Option 4: Running a Business
Planning for success
Students:
- examine the key considerations involved when planning and organising a small business, including: (ACHEK019External link, ACHEK030External link)
- 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?
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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.
- Display and explain how to conduct a SWOT analysis using the visualiser.
- Students individually complete the worksheet.
- Discuss with students which business venture they chose and why.