Quick MBA: Strategic Management. SWOT Analysis
I liked this one page easy to read description for several reasons: 1) It's easy to read (ha!) 2) The diagram clearly points up how strengths and weaknesses are subsets of internal analysis which are subsets of environmental scanning. Likewise threats and opportunities are subsets of external analysis and environmental scanning (See the box diagram).
In order to get a grade of "Excellent" maybe we need to be thinking about how to go about our environmental scanning rather than immediately jumping into creating S's, W's, O's, and T's.
Two questions:
1. How do we demonstrate that we've done a conscientious job of environmental scanning?
2. How do we insure that our analyses will be seen as thoughtful?
By the way, if you start investigating environmental scanning, you soon discover that a healthy part of it involves a literature review -- which ought to be right up our alley :)
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