Question

Which of the following is a tool that managers can use to address the needs of stakeholders while maintaining a competitive advantage?

1) SWOT analysis
2) Cost-benefit analysis
3) Market research
4) Competitor analysis

Answer 1

SWOT analysis is a tool that managers can use to address the needs of stakeholders while maintaining a competitive advantage.

Step-by-step explanation:

A tool that managers can use to address the needs of stakeholders while maintaining a competitive advantage is SWOT analysis.

SWOT analysis is a strategic planning method that helps identify an organization's strengths, weaknesses, opportunities, and threats. It allows managers to assess internal and external factors that can affect the company's performance and formulate strategies to leverage its strengths, minimize weaknesses, seize opportunities, and mitigate threats.

By conducting a SWOT analysis, managers can prioritize stakeholder needs while aligning them with the organization's competitive advantage.