Decide whether each situation below represents a Strength, Weakness, Opportunity, or Threat to the organization - choose one. 1. Magma Metals Corporation recently signed a long-term labour contract with unionized workers and now has an excellent working relationship between labor and management. Strength Weakness Opportunity Threat 2. Due to the increasing availability and affordability of sophisticated software and other technology, your industry is experiencing a fall in barriers to entry. As a result, there are a growing number of competitors entering the market. Strength Weakness Opportunity Threat 3. Your firm has gained a first-mover advantage and now faces a large untapped market potential. In a SWOT analysis, would a large untapped market be considered a strength, weakness, opportunity, or threat? Strength Weakness Opportunity Threat 4. As CEO of a small biotech firm, you are pleased to report to your shareholders that 64% of the firm's products are covered by US patents. Strength Weakness Opportunity Threat