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In strategic planning and strategic management, SWOT analysis (also known as the SWOT matrix, TOWS, WOTS, WOTS-UP, and situational analysis) [1] is a decision-making technique that identifies the strengths, weaknesses, opportunities, and threats of an organization or project.
The strategic grid model is a contingency approach that can be used to determine the strategic relevance of IT to an organization. The model was proposed by F. Warren McFarlan and James L. McKenney in 1983, and takes the impact of the information technology on the strategy in future planning as the horizontal axis, and the current impact of the information technology on corporate strategy as ...
The main goal of a context analysis, SWOT or otherwise, is to analyze the environment in order to develop a strategic plan of action for the business. Context analysis also refers to a method of sociological analysis associated with Scheflen (1963) which believes that 'a given act, be it a glance at [another] person, a shift in posture, or a ...
The OGSM framework forms the basis for strategic planning and execution, as well as a strong management routine that keep the plan part of the day-to-day operations. It aligns the leaders to the objective of the company, links key strategies to the financial goals, and brings visibility and accountability to the work of improving the ...
For strategic planning to work, it needs to include some formality (i.e., including an analysis of the internal and external environment and the stipulation of strategies, goals and plans based on these analyses), comprehensiveness (i.e., producing many strategic options before selecting the course to follow) and careful stakeholder management ...
A SWOT analysis looks at both current and future situations. The goal is to build on strengths as much as possible while reducing weaknesses. This analysis helps a company come up with a plan that keeps it prepared for a number of potential scenarios, as part of corporate planning or strategic planning
A strategic group is a concept used in strategic management that groups companies within an industry that have similar business models or similar combinations of strategies. For example, the restaurant industry can be divided into several strategic groups including fast-food and fine-dining based on variables such as preparation time, pricing ...
BSC SWOT, or the Balanced Scorecard SWOT analysis, was introduced in 2001, by Lennart Norberg and Terry Brown. BSC SWOT is a simple concept that combines the two powerful tools BSC (Balanced Scorecard) and SWOT analysis when identifying factors that drives or hinders strategy. The four perspectives in BSC is combined with the four dimensions of ...