Why is the SWOT matrix a useful tool in strategy formulation? Would it not be better for a firm to simply concentrate on enhancing its strengths and minimizing its weaknesses? Alternatively, would it not be better for a firm to avoid the SWOT approach altogether and remain flexible?© BrainMass Inc. brainmass.com March 21, 2019, 11:40 pm ad1c9bdddf
The SWOT is useful because when it has been strategically planned, it is a very powerful tool for identifying all four areas involved in the analysis. While strengths and weaknesses are important, the opportunities and threats have equal, and in some cases, more importance than the strengths and weaknesses. The opportunities are potential areas that can be focused on, once identified, to generate ...
The solution provides a detailed discussion examining the SWOT matrix, it's advantages and disadvantages, and how useful it is to a company. References are provided.