Strategic Friday #2
Thank you for your interest in today’s topic, today’s topic is about strategy in business and corporate settings. And we start by the SWOT analysis, which is connected to the previous strategic Friday article, also found on my blog.
Today strategic tool is a standard for analysing any situation, which can be an organisation, but can also be in regard of personal opportunities.
The swot analysis is composed of two main sections, the internal analysis, in which resources and capabilities, as well as other tools such as the Porter 5 forces, will be used to analyse the current situation of a situation or an organisation, and will be introduced in the future. And an external section, in which, the environmental forces, previously explain will be used to determine whether a particular situation is attractive or not.
Is important to remember, that they component of the analysis, are not only the 4 main components: strength, weaknesses, opportunities and threats. But also the internal four components such as strong opportunities to exploit, the search for weak opportunities, strong threats which have to be confronted, and weak threats which are avoidable.
As a reminder, is possible to see the graph below in regard to this analysis.