Course: Business Strategy
Search the Internet, and provide information that illustrates how internal analysis is completed and its implications if not completed accurately and honestly.
Discuss if this internal analysis of the business could increase a level of competitive advantage? Explain.
Provide specific examples to support the points in your post.
Include references, except from Wikipedia.
(Word doc attached for clarity).
In order for an organization to accurately assess how strong their company is in their particular industry, it is imperative for that organization to examine their business model internally to determine where they are strong, what their weaknesses may be, where they have opportunities, and finally, identifying the threats to their business that put them at risk (Emelio, 2010). This internal analysis will give the company the ability to see how their current situation matches their overall objectives and where they stand versus their competition in the marketplace (Emelio, 2010).
Through implementing a thorough internal analysis, an organization gives itself the ability to completely gauge their position in their competitive marketplace and industry. The internal analysis can be a complex process that evaluates the organizations resources and overall capabilities (Emelio, 2010). An internal analysis should be implemented as a critical part of an organizations strategic planning in order to help identify key strengths and weaknesses when establishing their short and long term objectives.
Without an accurate view of the internal structure of the business, it would be very difficult for managers to put together a comprehensive and competitive plan that will allow them to move the organization forward, therefore, the use of a SWOT (Strengths, Weaknesses, Opportunities, and ...
The solution assists with the completion of internal analysis.