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Strategic Planning Process.

What value do the SWOT and Matched Pair Analysis add to the strategic planning process? What is the analyzes' relationship with the strategic long-term objectives?

Environmental scanning generally produces large amounts of data. What are some questions to ask to aid you in screening that data to determine its usefulness? What is the importance of continuously validating an environmental scan?

What are the issues facing strategic planners today? What influence has technology had on environmental analysis?

Solution Preview

Interesting questions! Let take a closer look through discussion and research. One supporting article is also attached.

RESPONSE:

1. What value do the SWOT and Matched Pair Analyzes add to the strategic planning process?

The SWOT adds value by identifying the factors that characterize a company's strategic situation, and is indeed the basis for the strategic planning process. These factors are classified as SWOT (strengths, weaknesses, opportunities, and threats). Analyzing these factors using various tools, such as Matched Pair Analysis (see http://lib.bioinfo.pl/meid:7129), enables a manager to formulate strategies more effectively. Matched pair analysis extends the scope of the conventional SWOT analysis that matches the internal strengths and weaknesses of a company with its external opportunities and threats. Matched pair analysis adds value to the strategic planning process because it enables more alternatives, and hence, more strategic alternatives.

b. What is the analyzers' relationship with the strategic long-term objectives?

In business, strategy is the combination of foresight, planning, and decision-making that prepares an enterprise to achieve long-term goals and manage the consequences of contemporary decisions. As a case in point, let's consider a manufacturing company. One would determine a long-term objective for a manufacturing company on the basis of internal and external information. Using the long-term objective as a framework, one can then isolate the strengths, weaknesses, opportunities and threats of the company (SWOT), and then perform strategic analysis using a tool called Matched Pair Analysis, which is used to identify strategies that enable the company achieve its long-term objective. Thus, the first task is to recommend a long-term objective. However, in order to do that, the SWOT analysis is of value as it helps formulate the appropriate strategic long-term objective for the company by assembling critical internal and external information. The internal information is readily available, however, external information is costly in terms of time, human resources and cost. However, it is essential for strategic long-term formulation (see attached article).

2. Environmental scanning generally produces large amounts of data. What are some questions to ask to aid you in screening that data to determine its usefulness? What is the importance of continuously validating an environmental scan?

Environmental scanning (ES) is the acquisition and use of information about ...

Solution Summary

This solution explores the relationship between the strategic planning process, the SWOT and Matched Pair Analysis and the long-term objectives; and then discusses the issues facing strategic planners today. It also discusses environmental scanning, including some questions to ask when screening that data to determine its usefulness, the importance of continuously validating an environmental scan ,and the influence technology has had on environmental analysis.

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