BADM533
University of The Cumberlands
BADM533 - M51 Marketing Management
The success of any organization depends on strategic planning. Strategic planning is
the way to help the organization be more productive and meet the organizational goals.
Strategic planning involves proper analysis of decisions and action for the organization to
create a competitive environment for the organization. Strategic management begins with the
vision for the business(Guven, 2020). This is where the business organization targets what it
aims to achieve in the future.
The analysis of both internal and external factors is what will call the SWOT. The
research helps the organization to identify its potential threats and opportunities in the
competitive environment. Additionally, the analysis helps the business organization to
identify the organization's weaknesses and potential strengths. The analysis also helps the
organization know which of its resources can offer an advantage to the growth of the
business.
Purpose of the study
SWOT analysis is an effective framework for identifying strengths, weakness,
opportunities, and threats that a business face. The analysis is an adaptable and flexible
method that allows the organization's managers to focus on achieving the organization's
goals. This study aims to identify the benefits of every step of the analysis and its usefulness.
The study also seeks to enlighten the managers on applying SWOT analysis and its
application to business organizations.
Review of literature
SWOT analysis provides an opportunity for honing on the strength and create a
competitive advantage (Abdel et al., 2018). Strength is a characteristic that adds value to the
organization and is more advantageous over others. Strength offers the organization an
, advantage in achieving its goals. The organization's strengths are the abilities and the
potential that make
the business organization more competitive. Manager of businesses to have a good SWOT
analysis. On identification of the strengths, the organization will focus on utilizing them to
sustain the competition. The importance of business knowledge is potential is very important
since the organization will be able to remain relevant in the market by utilizing its strengths.
Being strengths are quite important in an organization since there will help to realize the
opportunities created outside.
Secondly, weakness is part of the internal factors that affect the operation of the
business. SWOT analysis help in the identification of weakness that is is the shortcoming the
company has compared to others. The weakness puts the organization at being a disadvantage
in the competitive market. Weaknesses of the organization mean that the industry is less
effective is something in comparison to other organizations. It is equally crucial for the
company to understand its flaws and strengths (Phadermrod, Crowder & Wills, 2019). That's
because weaknesses cannot be based on a plan. It should be known and improved the
organization's shortcomings, which can lead the organization. Solving current problems
which may cause long- term plans and strategies issues and prevent potential challenges is
required.
Contextually, SWOT help in the identification of the opportunities. According to
various studies, every business organization has opportunities that offer a loophole for
expansion(Wang
& Wang, 2020). Opportunities are driving factors, and they are supposed to bring an
advantage to the business. The organization needs to have a good analysis stat will identify
the available growth opportunities. The importance of utilizing the options is creating a
competitive advantage over other organizations with similar services and goods.
University of The Cumberlands
BADM533 - M51 Marketing Management
The success of any organization depends on strategic planning. Strategic planning is
the way to help the organization be more productive and meet the organizational goals.
Strategic planning involves proper analysis of decisions and action for the organization to
create a competitive environment for the organization. Strategic management begins with the
vision for the business(Guven, 2020). This is where the business organization targets what it
aims to achieve in the future.
The analysis of both internal and external factors is what will call the SWOT. The
research helps the organization to identify its potential threats and opportunities in the
competitive environment. Additionally, the analysis helps the business organization to
identify the organization's weaknesses and potential strengths. The analysis also helps the
organization know which of its resources can offer an advantage to the growth of the
business.
Purpose of the study
SWOT analysis is an effective framework for identifying strengths, weakness,
opportunities, and threats that a business face. The analysis is an adaptable and flexible
method that allows the organization's managers to focus on achieving the organization's
goals. This study aims to identify the benefits of every step of the analysis and its usefulness.
The study also seeks to enlighten the managers on applying SWOT analysis and its
application to business organizations.
Review of literature
SWOT analysis provides an opportunity for honing on the strength and create a
competitive advantage (Abdel et al., 2018). Strength is a characteristic that adds value to the
organization and is more advantageous over others. Strength offers the organization an
, advantage in achieving its goals. The organization's strengths are the abilities and the
potential that make
the business organization more competitive. Manager of businesses to have a good SWOT
analysis. On identification of the strengths, the organization will focus on utilizing them to
sustain the competition. The importance of business knowledge is potential is very important
since the organization will be able to remain relevant in the market by utilizing its strengths.
Being strengths are quite important in an organization since there will help to realize the
opportunities created outside.
Secondly, weakness is part of the internal factors that affect the operation of the
business. SWOT analysis help in the identification of weakness that is is the shortcoming the
company has compared to others. The weakness puts the organization at being a disadvantage
in the competitive market. Weaknesses of the organization mean that the industry is less
effective is something in comparison to other organizations. It is equally crucial for the
company to understand its flaws and strengths (Phadermrod, Crowder & Wills, 2019). That's
because weaknesses cannot be based on a plan. It should be known and improved the
organization's shortcomings, which can lead the organization. Solving current problems
which may cause long- term plans and strategies issues and prevent potential challenges is
required.
Contextually, SWOT help in the identification of the opportunities. According to
various studies, every business organization has opportunities that offer a loophole for
expansion(Wang
& Wang, 2020). Opportunities are driving factors, and they are supposed to bring an
advantage to the business. The organization needs to have a good analysis stat will identify
the available growth opportunities. The importance of utilizing the options is creating a
competitive advantage over other organizations with similar services and goods.
