Business programmes teach techniques such as SWOT analysis Coursework

Business programmes teach techniques such as deck up synopsis - Coursework ExampleThe closing part will be a summation of all that has been presented in this paper. According to Henry 2008, p.6, blood organizations face a constantly changing impertinent milieu and need to ensure that their own internal resources and capabilities are more than sufficient to meet the needs of the immaterial environs. Mere survival is non the objective of a business organization. Growth and prosperity are the essential ingredients of any successful business organization and the focus of the strategic management practise in a business organization. For successful strategic planning strategic information is essential. This information pertains to an understanding of the current situation to ensure the desired future. much(prenominal) strategic information is arrived at through business organizations undertaking an analytic thinking of the external environment in which they conduct their busine ss operations and the internal environment of the business organization itself (Henry, 2008). Two key components in strategic management involve analysis of the operating external environment of the business organization and the analysis of the internal environment of the business environment. ... The main objective in a SWOT analysis is to identify the strategies to exploit external opportunities, counter threats, build on and protect the company and eradicate weaknesses (Hill & Jones, 2008, p.19). Leigh 2010, p.115, defines the SWOT analysis as a process by which a group of stake holders (a) identify internal and external inhibitors and enhancers of performance, (b) analyse those factors based on estimates of their contributions to net value and approximations of their controllability, and (c) decide what future action to take with regard to those factors. For a SWOT analysis to be purposeful all three parts of the analysis has to be undertaken (Leigh, 2010). The SWOT analysis is a necessary analysis for business organizations to face competition, through identifying and exploiting opportunities in the business environment based on its internal strengths, eliminate internal weaknesses that restrain it and ward of threats, so as to sustain its business activities and grow and prosper (Groucutt, 2005). The SWOT analysis is a simple yet efficient strategic planning tool that enables identifying of environmental opportunities for exploitation, employing the organizational strengths that have been identified, with the objective of securing future amasss. The SWOT analysis tool thus enables an organization to efficiently leverage itself to face and overcome expected competition in its business activities in an ever changing environment (Schermerhorn, 2011). The SWOT Analysis Since its emergence as a strategic planning tool, the SWOT analysis has been a popular technique used by organizations to gain an understanding of its strategic situation. According