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SWOT analysis to identify new applications

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How might managers use SWOT analysis to identify new applications for electronic commerce in their strategic business units?

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A SWOT exercise is designed to analyze a company's strengths, weaknesses, opportunities and threats. According to the Society of Competitive Intelligence Professionals, 55.2 percent of its members use SWOT analysis as a tool for analyzing information, and 63.1 percent rate the tool extremely or very effective. The SWOT exercise can be especially useful when you not only complete an analysis for your competitors, but also for your own company.

In SWOT analysis you list strengths and weaknesses of the business unit and then identify opportunities presented by the markets of the business unit and threats posed by the competitors of the business unit. This is ...

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(1) Define the role played by a SWOT analysis in the strategic planning process.

(2) Differentiate between strategic thinking, leadership, and planning

(3) Indicate the implications of your analysis for planning and implementation, including any recommendations that seem to follow your analysis;

(4) Support your analysis with evidence from any news sources you may find on the Internet.

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