Overview
Complete a strengths, weaknesses, opportunities, and threats (SWOT) analysis of an organization of your choice.
A SWOT analysis is vital to generating long-term strategies.
Context
Strategic management is the formulation, implementation, and evaluation of decisions that help a business achieve its goals (David, 2014). Strategy formulation includes the development of a vision and a mission, determining internal strengths and weaknesses, identifying external opportunities and threats (also known as a SWOT analysis), and establishing long-term strategies and objectives. Strategy implementation requires the organization to create policies and short-term objectives, and to allocate resources so strategies can be achieved. Strategy evaluation reviews external and internal factors, measures performance, and takes corrective action. Strategy formulation can occur at the corporate, divisional, business unit, or functional level. There are financial and non-financial benefits in strategic planning. Success increasingly depends upon being competitive in the global market. Strategic planning can help achieve this imperative.
Questions to Consider
To deepen your understanding, you are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of the business community.
Read the mission statement of an organization with which you are either currently employed or very familiar, and analyze the following questions:
Resources
Assessment Instructions
Choose an organization on which to complete a strengths, weaknesses, opportunities, and threats (SWOT) analysis. Ideally, the company you choose will be a familiar one and one to which you have easy access, such as your place of employment or a company close to where you live. You may use the same organization for other assessments in this course. Think of yourself as an outside consultant hired to research, assess, formulate, recommend, and evaluate your selected organization.
It is important to remember that opportunities and threats are external to an organization, and strengths and weaknesses are internal to an organization.
Complete the following:
Be sure to both identify and describe the strengths, weaknesses, opportunities, and threats of your chosen organization.