What is a SWOTT analysis? What is its purpose in strategic planning? - 12248

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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? Please use the class text to support your ideas.

 

 

 


 

What are the primary internal organizational considerations for the development of a strategic plan? Which consideration is the most important? Why? Please use the class text to support your ideas.

Solution Description

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? Please use the class text to support your ideas.

 

ANSWER:

 

According to Pearce & Robinson (2009), “SWOT is an acronym for the internal Strengths and Weaknesses of a firm and the environmental Opportunities and Threats facing that firm. SWOT analysis is a historically popular technique through which managers create a quick overview of a company’s strategic situation. It is based on the assumption that an effective strategy derives from a sound “fit” between a firm’s internal resources (strengths and weaknesses) and its external situation (opportunities a