One reason that strategic management is important to the success of an organization is due to the fact that strategic management leads to strategic planning, which provides an organization with a step-by-step blueprint by which to follow in order to incrementally achieve their overall objectives. Another key reason that strategic management is important to the success of an organization is due to the fact that strategic management allows an organization to gain a keen understanding of its strengths and weaknesses, and this understanding can be utilized in order for the organization be able carry out operations that are based upon its strengths, and to avoid activities that expose its weaknesses.
Please help me discuss this.
What are some of the techniques or methods that an organization may implement in order to assess its own
strengths, weaknesses, opportunities, and threats when determining what planning methods should be
implemented? What are some of the pitfalls of these assessments?
Some of the techniques can be through the SWOT process. One "may already be familiar with the trusted business planning tool called the SWOT, but just in case, let me quickly review. SWOT is an acronym that stands for Strengths, Weaknesses, Opportunities, and Threats" ("Identifying your strengths," 2011, para 1). These "key factors are crucial in assessing your organization's strategic position. You'll want to build on ...
The solution discusses the strategic management techniques