What is a SWOTT analysis? What are the key planning factors for competitive success?
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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?
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 success as the result of failed planning.
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The solution explains the theory and use of a SWOTT analysis in 637 words.
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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?
A SWOTT analysis is a situation analysis using a simple framework to generate strategic alternatives which are applicable to corporate or business unit levels and it can be found in marketing plans. SWOTT analysis means conducting an analysis of an organization's strengths, weaknesses, opportunities, threats and trends. These aspects are examined thoroughly so that proper solutions and actions can be done to achieve success. SWOTT analysis serves as a foundation that provides a good start for an organization to decide on strategic actions that can be done to ensure success.
The SWOTT analysis is very important in effective strategic planning. Previously, many have complained that strategic plans are merely plans or a list of things to do of what needs to be accomplished over the next few years. Others say that these plans are not useful whenever an organization is in a situation that it has to make a major difficult decision. Some also say that they don't help the organization in facing what happens in ...
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