Strategic analysis is the process that firms use to study and understand the many different layers and aspects of their competitive environment. Why do firms spend time and money trying to understand what is going on around them? Firms do not operate in a vacuum. They are impacted by forces and factors from inside their organizations and outside in the world at large. Understanding these forces and factors is crucial to achieving success as a business. For example, grocery chains like Giant Read More
SWOT Analysis
The SWOT analysis is an instrument used by businesses and organizations to organize internal and external factors that affect a product or business into separate categories. Due to its simplicity, the SWOT is a popular method for companies to identify their competitive advantages and disadvantages. The outcome of a SWOT analysis can be used to make strategic decisions that are consistent with a company’s capabilities. On the internal side, you will want to gain a sense of the organization’s Read More