BUS475 Tutorial - 7554

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1.       What is a SWOTT analysis? What is its purpose in strategic planning? Must you conduct a SWOTT analysis to have an effective strategic plan? Why or why not? (200 word)

 

2.       What are the key planning factors for competitive success? Provide an example of an organization that has achieved competitive success through planning. Provide an example of an organization that has failed to achieve competitive success as the result of failed planning. (200 word)

 

 

Solution Description

1.       What is a SWOTT analysis? What is its purpose in strategic planning? Must you conduct a SWOTT analysis to have an effective strategic plan? Why or why not? (200 word)

SWOT stands for Strengths, weaknesses, opportunities and threats. It is an important tool that aids in having an effective strategic plan. It scans the external as well as internal environment and is used in most of marketing plans. SWOT analysis involves determining the business objectives and identifying factors that are external and internal (both favorable and unfavorable). Strength element of the SWOT analysis has t