Swots: Strategic Management and Swot Analysis

10124 words 41 pages
SWOT usage
SWOT has been used by countless practitioners, marketing researchers, and is a frequent and popular tool for business marketing and strategy students. Its simplicity and catchy acronym perpetuates its usage in business and beyond as the tool is used to assess alternatives and complex decision situations. In the business arena the grouping of internal and external issues is a frequent starting point for strategic planning. It can be constructed quickly and can benefit from multiple viewpoints as a brainstorming exercise. Typically, managers first consider internal strengths and weaknesses (at the top row of the 2 × 2 grid) which can include image, structure, access to natural resources, capacity and efficiency, and financial
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on an individual level of analysis, on an organizational level, for an entire industry, and for an entire country. Within each of these main categories, the list was further divided as to a lone analysis, paired comparisons or multiple comparisons. Two additional groups of studies emerged from the affinity diagram analysis that did not fit into a classification as a business analysis. The first focused on the use of SWOT as a research tool or method for strategic planning. These studies were grouped separately as were the second group of business cases targeted for student analysis and published primarily in business case journals. In each case study the SWOT methodology was recommended as a tool for student decision-making. Once the categories were finalized, the co-authors again separately coded the studies into the framework alone and then together discussed and agreed upon the final classification as shown in Table II [Figure omitted. See Article Image.] and discussed below.
While SWOT analysis is primarily used to aid an organization plan future strategies, the framework can also be applied to individuals. While no studies looked at only one individual or a pair of individuals, one study did focus on entrepreneurs as a group. [3] Ames and Runco (2005) used the SWOT analysis


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