i) Concept of SWOT Analysis: SWOT is an acronym for strengths, weaknesses, opportunities, and threats, and it is an analytical tool used to create an overview of a company’s strategic situation. (2 marks)

ii) Elements of SWOT Analysis:

• Strengths: These are the resource capabilities of the organization that can be used to gain a competitive advantage over rivals.
  Example: Adequate financial resources, acknowledged market leader.
  (2 marks for explanation + 1 mark for example = 3 marks)
• Weaknesses: These are resource constraints that can place the organization in a competitive disadvantage.
  Example: Obsolete technological infrastructure, poor customer service.
  (2 marks for explanation + 1 mark for example = 3 marks)
• Opportunities: These are favorable openings or conditions in the external environment that the company can leverage using its strengths.
  Example: Change in government policy, growing domestic economy.
  (2 marks for explanation + 1 mark for example = 3 marks)
• Threats: These are unfavorable factors in the external environment that can erode the company’s gains.
  Example: Decline in consumer demand, environmental hazards.
  (2 marks for explanation + 1 mark for example = 3 marks)

Grand total: 14 marks