The SWOT Analysis Of The SWS Analysis

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TOWS ANALYSIS Humphrey (1960) as well added that the SWOT matrix is very useful for generating a series of alternatives for a company or business unit based on particular combinations of the four sets of strategic factors. The SWOT matrix illustrates how the external opportunities and threats facing a firm can be matched with its internal strengths and weaknesses to result in four sets of possible strategic alternatives. It enables mangers to create various kinds of growth and retrenchment strategies. The SWOT matrix includes: 1. SO strategies focus on how to use strengths of a business to take advantage of opportunities. 2. ST strategies attempt to utilize the strengths of a company to avoid threats. 3. WO strategies aim to eliminate weaknesses…show more content…
RBV was founded by Birger Wernerfelt in 1984. This is a strategic tool where its focuses on unique and valuable resources that a firm has compared to others organization and competitors. (Cardenas, 2016) said a resource-based view in business management focuses strategic planning on identifying and developing these resources in areas such as branding, customer relationship management and product development. Valuable resources include things such as machine capacity, customer loyalty and technological…show more content…
The process of analyzing and modifying the way organizations reacts to these new environments is known as business strategy. An expression of how an organization needs to evolve over time to meet its objectives along with a detailed assessment of what needs to be done. Developing an organizational strategy for a business involves first comparing its present state to its targeted state to define differences, and then stating what is required for the desired changes to take place (Mintzberg, 1985) Strategy is the direction of organization over long terms, which achieve advantages through changing environment (Johnson, 2009). Strategies as well are achieved in work, conducted by organizational members over a time (Mintzberg and McHugh, 1985). Thus, it is vital for organization to have a good leader that can identify right strategies for the organization to be compete and still relevant to the market for a long time. In order for leader to make a good decision with regard to organization strategies, they need to identify factors that can influence organization both internal and external. The PESTLE analysis is a useful method in order to identify the external factors that influence an organization (Johnson, 2009). On the other hand, internal factors as well need to be into consideration such as structure and management

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