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SWOTT Analysis and Strategic Planning

1. What is a SWOTT analysis? What is its purpose in strategic planning? Must you conduct a SWOTT analysis to have an effective strategic plan? Why or why not?

2. What are the key planning factors for competitive success? Provide an example of an organization that has achieved competitive success through planning. Provide an example of an organization that has failed to achieve competitive success as the result of failed planning.

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1. What is a SWOTT analysis? What is its purpose in strategic planning? Must you conduct a SWOTT analysis to have an effective strategic plan? Why or why not?

The SWOTT analysis is the evaluation of the strengths, weaknesses/limitation, opportunities, threats, and trends of a business venture. In strategic planning the purpose of SWOTT analysis is to identify the factors both internal and external that are in favor of the firm or against it to achieve its goals. Strategic planning gives the firm its strategy or broad direction. This helps allocate resources to enable it to follow the strategy. To develop the strategy it is necessary for the company to understand its current position. The SWOTT analysis helps ...

Solution Summary

The response provides you a structured explanation of strategic planning. It also gives you the relevant references.

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