Complete a strengths, weaknesses, opportunities, and threats (SWOT) analysis of an organization of your choice.
A SWOT analysis is vital to generating long-term strategies.
Strategic management is the formulation, implementation, and evaluation of decisions that help a business achieve its goals (David et al., 2024). Strategy formulation includes developing a vision and a mission, determining internal strengths and weaknesses, identifying external opportunities and threats (also known as a SWOT analysis), and establishing long-term strategies and objectives. Strategy implementation requires the organization to create policies and short-term objectives, and to allocate resources so strategies can be achieved. Strategy evaluation reviews external and internal factors, measures performance, and takes corrective action. Strategy formulation can occur at the corporate, divisional, business unit, or functional level. There are financial and non-financial benefits in strategic planning. Success increasingly depends upon being competitive in the global market. Strategic planning can help achieve this imperative.
Reference
David, F. R., David, F. R., & David, M. E. (2024). Strategic management: A competitive advantage approach, concepts, and cases (18th ed.). Pearson.
In this assessment, you will choose an organization to complete a SWOT analysis. You may use the same organization for other assessments in this course. Ideally, the company you choose should be a familiar one and one to which have easy accesssuch as your place of employment or a company close to where you live. Think of yourself as an outside consultant hired to research, assess, formulate, recommend, and evaluate your selected organization.
It is important to remember that opportunities and threats are external to an organization, and strengths and weaknesses are internal to an organization.
SWOT Analysis
The intention of this exercise is to give you experience identifying the opportunities, threats, strengths, and weaknesses of an organization. This analysisalso known as a SWOT analysisis vital to generating long-term strategies.
Complete the following:
- First, identify and describe what you consider to be your chosen organization’s internal strengths and weaknesses. Examples of internal factors include employees, management, and finance. Use the terms “Strengths” and “Weaknesses” as titles. Then, list three or more factors under each title and describe them.
- Second, identify and describe what you consider to be the organization’s external opportunities and threats. Opportunities and threats may include a variety of factors, such as economics, technology, demographics, environmental considerations, culture, competition, and political influences. Use the terms “Opportunities” and “Threats” as titles. Then, list three or more factors under each title and describe them.
Be sure to both identify and describe the strengths, weaknesses, opportunities, and threats of your chosen organization.
Your assessment should also meet the following requirements:
- Written communication: Written communication is free of errors that detract from the overall message.
- APA formatting: If you use sources, ensure that resources and citations are formatted according to current APA style and formatting guidelines.
- Font and font size: Times New Roman, 12 point.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and scoring guide criteria:
- Competency 3: Apply a sequential process for developing and implementing strategies, goals, objectives, and tactics as part of the strategic plan implementation.
- Describe internal strengths of the selected organization.
- Describe internal weaknesses of the selected organization.
- Describe external opportunities of the selected organization.
- Describe external threats of the selected organization.
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