Strategic Management and Pestle Analysis

While there are many aspects in developing a strategic goal, I would need a greater understanding of its business and mission statement before I would attempt to make any kind of strategic decisions. In order to do a thorough and complete SWOT analysis, I would want to see how well the organizational culture operates, what policies, procedures, and rules are currently in place. I would also want to evaluate Quality and

A SWOT analysis is also an important aspect of the strategic plan as it helps management anticipate challenges, take advantage of opportunities and mitigate risk (Balanced Scorecard Institute, 2014). These are key elements that

A SWOT analysis is the strategic business plan that shows the important aspect of a company, which details the company’s strengths, weakness, opportunities, and threats (Simoneaux, 2011). Many SWOT analysis are done at companies to make sure that they are aware of what health of their organization. The SWOT will have the company to identify where they can use help, and where they are doing well.

Many companies use SWOT analysis to understand their position in the market and develop a plan of action. Therefore, a SWOT analysis is an important part of the project planning. Strength (internal factors): attributes of the organization that helps accomplish the project objective. Weaknesses (internal factors): attributes of the organization that stops the accomplishment of the project goal. Opportunities (external factors): external conditions that help accomplish the project. Threats (external factors): external conditions that could impair the project.

Also to gain knowledge about how TATA brought this new product i.e., “NANO” up to the development stage and finally going to launch it on 23rd March, 2008 (already launched till now).

Percy and Giles (1989), stresses that the SWOT analysis is the most applied tool for strategic planning. The SWOT analysis is an approach that is structured and straightforward in evaluating and identifying strategic positioning, strengths, and weakness and making comparisons to opportunities and threats (p. 5). Percy and

Gwendolyn, your discussion post for this weak was very interesting to me. I like when you stated that ‘A SWOT analysis should roadmap the purpose for business and aid in the decision-making process’. A company SWOT analysis should show its purpose and how to analyze and look at all areas of the organization and then develop a plan for the organization ( Parnell, 2014). Gwen it also is very helpful to know what the word SWOT means. SWOT means threats, weakness, strength, and opportunities. SWOT involves composing a list of weakness and strengths for a business that pertain to a project and then look at the threats from the outside of the company and how it will impact the company. Gwendolyn is also is very helpful to a business to

Difficulty in finding similarities in markets or operational capabilities; Tata has more than 100 operating companies in seven main business groups doing business in 80 countries: chemicals, information systems and communications, consumer products, energy, engineering, materials, and services. It’s difficult to find similarities in markets or operational capabilities, so they need more effort to develop to different strategies for different markets especially for consumer products. More complex and challenging process of managing strategically it face.

A PESTLE analysis for Mydin must consider all the important external factors impacting on the company. These factors may have political, economic, social and culture, technological, legal or environmental dimensions. These forces, although out of the company’s control, may have an impact on the success of any future plans. By considering them, a company can change direction, build contingencies, identify new opportunities or do nothing at all. It is an important part in the strategic decision making.

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).

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 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]

Since its establishment, Tata has shown a strategy of incremental change. Arguably, that point was important because so the group might vary within the current market. In the nineteenth – century steel was seen as an unprofitable section. Even more than 50 independent steel producers went into bankruptcy in the USA (Business Monitor International Ltd, 2010: 54).

The first important part of a SWOT analysis is to improve the viability of an organization. SWOT identifies the risk which can arise from future threats coupled with the organization weakness. For example, a pharma company ABC has invested heavily in R& D of existing product where a new competitor is also entering with same product. Then company ABC has to decide whether it is strategically important to deal with external threat or improve the internal weakness. Company ABC can continue the R & D progress to improve the quality of existing product or else can diversify the resource to offer the product at less cost i.e. improving its efficiency. So, SWOT plays an important role in such situation and proves to be a beneficial tool to take appropriate decision of improving the weakness

Tata Motors marks the biggest turnarounds in the history of Indian automobile manufacturing industry which happened in 2001. This success story of Tata Motors can be entirely attributed to the timely change adopted by the Tatas and the then MD Ravi Kant who led the change.