Individual Assignment: Strategic Plan

Another approach to strategy development begins with an analysis of external and internal factors, followed by some visioning, then planning. Including in the analysis phase is often a “SWOT,” a thorough examination of internal Strengths and Weaknesses, as well as external Opportunities and Threats. SWOTs are praised for capturing both the positive (strengths and opportunities) and negative (weaknesses, threats); and organizations embrace this approach with the hope of gaining a “balanced” analysis of itself, inside and out (Hetzel and Silbert, 2007).

SWOT analysis can be used to describe and analyse a company’s internal capabilities in relation to its competitive environment. A strategy behind

“A SWOT Analysis is the most used tool for audit and analysis of the overall strategic position of the business and its environment. Its principal purpose is to identify the strategies that will create a firm-specific business model. The plan aligns the organization’s resources and capabilities to the requirements of the environment in which the firm operates. The analysis is to evaluate any potential and limitations and the probable/likely opportunities and threats from the external environment. The results provide the positive and negative factors inside and outside the firm that affect the success.” A SWOT analysis is conducted to determine the strengths, weaknesses, opportunities, and potential threats to the organization. ("SWOT

An internal assessment analysis named SWOT, which stands for a company 's strengths, weaknesses, opportunities, and threats is conducted (Abraham, 2012). Strengths and weaknesses are the internal aspects of the normal SWOT analysis (Abraham, 2012). They include problems that need to be corrected, deficiencies recognized through a comparison with competitors, or deficiencies relative to recognized strategies such as lacking the resources to grow (Abraham, 2012). An opportunity is a product-market issue (Abraham, 2012). It must include a product or service that is actually offered, to include the existing ones, and a defined customer group at which that product or service is targeted, including the existing ones (Abraham, 2012). Threats are external trends that could have a negative effect on the company (Abraham, 2012).

SWOT, (Strengths, Weakness, Opportunity, and Threat) analysis describes a business’s greatest strengths, weaknesses, opportunities, and threats (Helms, 2010). With this information available, the consultant/ marketing strategist enables grouping of internal and external issues as a starting point for strategic planning (Helms, 2010). SWOT is easily put together, and one can benefit from multiple viewpoints as a brainstorming exercise (Helms, 2010). One of the first steps strategist conducts are internal weakness and strengths which range from efficiency, capacity, structure, image, resources access, and financial opportunities (Helms, 2010). The next step that have to be conducted are external factors that deal with, customers, social change, trends, competitors, technology, along with economic and political regulatory issues (Helms, 2010).

My long term personal mission in my career is to own and run a hugely successful eighteen-hole PGA certified golf course. I envision my shorter term career goals as being stepping stones to this. Being financially comfortable and secure, eventually having enough capital to invest in a business is a major focus of mine. Honing my skills as a golfer and a golf professional to the master level will serve me well in making business connections. Finally, acquiring business acumen by studying and learning from the professionals in my life already will give me what I need for running a business. By

SWOT analysis is an established instrument that helps to analyze company’s internal and external environment. This study analysis is based on internal strengths and weaknesses and external opportunities and threats. SWOT helps to identify priorities and create a common vision achieving the goals set.

Internal analysis are conducted so it can identify an organizations strengths and weakness. Threats and opportunities are identified by assessing the external environment. Either in its broad or competitive environment. The most essential result of a SWOT analysis is the ability to draw conclusions about the organizations situation and need for strategic action.

Businesses in the same industry compete against each other to meet their organization goals and sustain competitive advantage over one another. But to meet those goals, it’s important for businesses to analyze their internal and external environment to allow them to come up with new business strategies beneficial to the business. Firms can use SWOT as a starting point. SWOT is a basic technique that can be used by business owners to analyze their business and industry condition (Dess, G., Lumpkin G.T., Eisner, A., McNamara, G, 2013). Using SWOT will help business owners understand the strengths, weaknesses, opportunities and threats of their business. It would help them analyze and come up

SWOT analysis is a popular analysis tool used in different situations that include not just business and marketing but also project planning and personal career development (Chapman 1995-2012). As for the strategic planning, Kenneth Andrews popularized his idea that good strategy means keeping a fit between the external situations a firm faces and the internal capabilities (Hill and Westbrook, 1997). The format the SWOT analysis presented is a 2x2 'internal/external' matrix, in which questions and relative answers can be listed for analysis (chapman 1995-2012). And according to Hill and Westbrook (1997), the output of SWOT analysis comes from meetings facilitated by consultants or managers to contribute the final analysis. Brainstorming can be used for filling in the sections to answer the questions. In addition, similar arguments should be concluded and ranked according to their answers in meetings (Rauch, 2007). As for the newly developed analysis, the TOWS matrix matching the various factors enables companies to stimulate new strategic initiative (Dyson, 2004).

The focus of the SWOT analysis is to identify the key internal and external factors that are important to achieving the objective. SWOT analysis groups key pieces of information into two main categories; internal factors and external factors. The internal factors are the strengths and weaknesses that are internal to the company while the external factors are the opportunities and threats that presented by the external environment. The internal factors are determined by their impact on the company’s objectives. What may represent strengths with respect to one objective may be weaknesses for another objective. The external factors may include technological change, legislation, cultural changes, and changes in the marketplace or competitive position (Wood, 2008).

SWOT analysis covers the strengths, weaknesses, opportunities & threats which a company is facing in its internal & external environment. Strengths & weaknesses fall under the internal environment of the company and opportunities & threats fall under the

SWOT analysis is a useful tool for understanding and decision-making for all sorts of situations in business and organization. SWOT analysis can be classified into internal and external factors affecting a company. The Strengths and Weaknesses of the SWOT analysis represent the internal factors that influence the viability of the company. While the Opportunities and Threats, on the other hand, are the external factors that may affect the company's performances. A SWOT analysis provides more understanding of the organization in relation to its internal and external environment so that manager can formulate better strategy in pursuit of its mission.

SWOT analysis is a key systematic apparatus that is utilized to assess the qualities, shortcomings, opportunities and threats connected with a business (Kotler and Keller, 2006). In addition, "SWOT analysis seeks after an incorporated methodology including key organization and ecological variables. The target is the showdown of the organization's inner qualities and its shortcomings, and, organization outer business opportunities and dangers so as to create conceivable key alternatives" (Bohm, 2009, p.1).

SWOT Analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favourable and unfavourable to achieving that objective. The technique is credited to Albert Humphrey, who led a research project at Stanford University in the 1960s and 1970s using data from Fortune 500 companies.[1]