Swots: Strategic Management and Swot Analysis
SWOT usage
SWOT has been used by countless practitioners, marketing researchers, and is a frequent and popular tool for business marketing and strategy students. Its simplicity and catchy acronym perpetuates its usage in business and beyond as the tool is used to assess alternatives and complex decision situations. In the business arena the grouping of internal and external issues is a frequent starting point for strategic planning. It can be constructed quickly and can benefit from multiple viewpoints as a brainstorming exercise. Typically, managers first consider internal strengths and weaknesses (at the top row of the 2 × 2 grid) which can include image, structure, access to natural resources, capacity and efficiency, and financial resources. At the bottom row of the SWOT grid, external opportunities and threats including customers, competitors, trends in the market, partners and suppliers, social changes and new technology, and various environmental economic, political and regulatory issues are included. SWOT analysis assists in the identification of environmental relationships as well as the development of suitable paths for countries, organizations, or other entities to follow ([154] Proctor, 1992).
[54] Glaister and Falshaw (1999) agree SWOT analysis is one of the most respected and prevalent tools of strategic planning. [39] Dickson (2002) agrees the traditional SWOT analysis can be re-conceptualized in terms of the direction and momentum where the market can still be changed. This provides insight into teaching marketing strategy and competitive rationality skills. [188] Valentin (2001) advocates SWOT analysis as the traditional means for searching for insights into ways of crafting and maintaining a profitable fit between a commercial venture and its environment. SWOT is used to identify cultural impediments and advantages and external governmental roles as well as internal company issues. [54] Glaister and Falshaw (1999) found SWOT analysis one of the
SWOT has been used by countless practitioners, marketing researchers, and is a frequent and popular tool for business marketing and strategy students. Its simplicity and catchy acronym perpetuates its usage in business and beyond as the tool is used to assess alternatives and complex decision situations. In the business arena the grouping of internal and external issues is a frequent starting point for strategic planning. It can be constructed quickly and can benefit from multiple viewpoints as a brainstorming exercise. Typically, managers first consider internal strengths and weaknesses (at the top row of the 2 × 2 grid) which can include image, structure, access to natural resources, capacity and efficiency, and financial resources. At the bottom row of the SWOT grid, external opportunities and threats including customers, competitors, trends in the market, partners and suppliers, social changes and new technology, and various environmental economic, political and regulatory issues are included. SWOT analysis assists in the identification of environmental relationships as well as the development of suitable paths for countries, organizations, or other entities to follow ([154] Proctor, 1992).
[54] Glaister and Falshaw (1999) agree SWOT analysis is one of the most respected and prevalent tools of strategic planning. [39] Dickson (2002) agrees the traditional SWOT analysis can be re-conceptualized in terms of the direction and momentum where the market can still be changed. This provides insight into teaching marketing strategy and competitive rationality skills. [188] Valentin (2001) advocates SWOT analysis as the traditional means for searching for insights into ways of crafting and maintaining a profitable fit between a commercial venture and its environment. SWOT is used to identify cultural impediments and advantages and external governmental roles as well as internal company issues. [54] Glaister and Falshaw (1999) found SWOT analysis one of the