BUS 475 week 2 DQs - 14037

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Week two DQ 1

What is a SWOTT analysis? Must you conduct a SWOTT analysis to have an effective strategic
plan? Why or why not?

SWOTT analysis is a tool, which can help assess the strengths, weaknesses, opportunities,
threats, and trends of the business venture, competitors, or the general industry.

Yes, it is important to conduct a SWOTT to have an effective strategic plan. It should be used in
strategy and strategic planning because it helps gauge the business environment and understand
the efforts it needs to sustain or start in order to survive and be successful.

Second, strategic planning can be successful only if a company knows its own self
completely. It helps a business understand its changing competencies, new or persisting
weaknesses, new competitors and so on. So a SWOTT basically helps an organization come into
terms with the latest reality and it is very important to understand this reality before it makes any
future plans.

Third, strategy is based on the actions of the competitors and the available opportunities in the
market and hence this analysis helps identify all such factors.

Fourth, framing strategy without conducting a SWOTT analysis is an incomplete way of
strategic planning and a company could easy loose out its competitive advantage or upper
hand. Even if the ideas are very novel and the strategy is breathtakingly good, without a
SWOTT it is incomplete.

Last, strategy helps a business fulfil its goals and plans and a SWOTT can also help in
identifying the real goals and plans and answers if the business is really capable of achieving any
goals.

Week two DQ 2

What are the primary external organizational considerations for the
development of a strategic plan? Which consideration do you believe is the most
important? Why?

The primary external organizational consideration for the development of a strategic
plan is, 1) the economic and financial condition of the world and the nation, 2) political scenario
in the country is another external consideration which can be stable or unstable and impact the
strategic plan directly, 3) the availability of talent pool and the changes in the trends of the job
market have an impact on the development of the strategic plan, 4) any alterations in the law of
the land could also have an impact.

I think the external consideration of law can be very important. For instance, if a
country’s law suddenly starts permitting the entry of global players into a market, which was not
the case before, it could make a company panic, and it would have to change all its plans in order
to survive and compete effectively. It is also one factor which is not in one’s hand and one has
to compulsorily comply with this factor. For instance, a nation like India was a closed economy
around 60 years back and some Indian companies like TATAs had a monopoly but it began
opening and Toyota, ford, Hyundai, etc. have all been giving Tata Motors a run for its money.

http://www.boydassociates.net/Publishing/PUBS/Strategic-Planning-in-HR.pdf

Solution Description

Week two DQ 1

What is a SWOTT analysis? Must you conduct a SWOTT analysis to have an effective strategic
plan? Why or why not?

SWOTT analysis is a tool, which can help assess the strengths, weaknesses, opportunities,
threats, and trends of the business venture, competitors, or the general industry.

Yes, it is important to conduct a SWOTT to have an effective strategic plan. It should be used in
strategy and strategic planning because it helps gauge the business environment and understand
the efforts it needs to sustain or start in order to survive and be successful.

Second, strategic pl

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