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In strategic management, situation analysis (or situational analysis) refers to a collection of methods that managers use to analyze an organization's internal and external environment to understand the organization's capabilities, customers, and business environment. [1]
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.
It uses various scientific research-based principles, strategies, and analytical methods including mathematical modeling, statistics and numerical algorithms and aims to improve an organization's ability to enact rational and accurate management decisions by arriving at optimal or near optimal solutions to complex decision problems. [1]: 113
Strategic management tools. In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.
Strategic planning is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals.. Furthermore, it may also extend to control mechanisms for guiding the implementation of the strategy.
Both choices and problems are arranged in a hierarchy so that important problems (having low numbers) have access to many choices, and important choices (also having low numbers) are accessible to only important problems. [1] An example could be making big decisions in an executive meeting/committee, while small decisions are left for the ...
Strategy making with this group begins with the organization's strategy story. Using middle managers in this role allows these individuals to raise their own strategic leadership bar. And it is through these middle managers that the organizational story becomes more accessible in those settings and situations that they know much more intimately ...
Thinking in time means being able to hold past, present and future in mind at the same time to create better decision making and speed implementation. "Strategy is not driven by future intent alone. It is the gap between today’s reality and intent for the future that is critical." [15] Scenario planning is a practical application for ...
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