MGT 125 Lecture Notes - Lecture 22: Swot Analysis
Document Summary
6 step process encompasses strategic planning, implementation & evaluation: identifying the organisation"s current mission, goals & strategies. Goals provide measureable performance targets & to change strategies: doing an external analysis. Analyse specific & general environ. for trends & changes. Pinpoint opportunities (positive trends in external environ) & combat threats (negative trends) Same environ poses opportunities to 1 org & threats to another in industry: doing an internal analysis. Resources: assets used to develop, manufacture & deliver products or services to customers financial, physical, human, intangible. Capabilities: org"s skills & abilities in doing work activities in its business. Core competencies: org"s major value-creating capabilities that determine its competitive weapons. Then identify strengths (activities org does well or inquired resources) & weaknesses (activities org doesn"t do well, resources need but not possess) = constrain by resources & capabilities. Swot analysis: of org"s strengths, weaknesses, opportunities & threats: formulating strategies. Types: corporate, competitive & functional: implementing strategies.
