Swot Analysis Strategic Planning - 1299 Words

SWOT analysis is an examination of an organization’s internal strengths and weaknesses, its opportunities for growth and improvement, and the threats the external environment presents to its survival. Originally designed for use in other industries, it is gaining increased use in healthcare. Steps in SWOT Analysis The primary aim of strategic planning is to bring an organization into balance with the external environment and to maintain that balance over time . Organizations accomplish this balance by evaluating new programs and services with the intent of maximizing organizational performance. SWOT analysis is a preliminary decision-making tool that sets the stage for this work. Basic principles SWOT analysis The so-called SWOT analysis,†¦show more content†¦Strength-Threat (ST) strategy refers to the use of their own advantages to avoid or mitigate the impact of external threats. It should take a diversified strategy, use their own advantages, and find opportunities for long-term development in diversification; or it further enhances their competitive advantage to counter the threat of competitors. Weakness-threat (WT) strategy is a defensive technology designed to reduce internal weaknesses and avoid external environmental threats. When the enterprise has internal and external problems, it is often faced with survival crisis, and reducing costs may become the main measure to change the disadvantage. Enterprises will take a defensive strategy to avoid disadvantages of costs and the threat owning to costs. Analysis SWOT Whirlpool 1. Strength Technical strength: Whirlpool has nine kinds of products ranking first in the market of this industry, and three kinds of products ranking the top three in this industry in terms of world market share, with patent advantage and software copyright of 589 items. Whirlpool is in advanced world level in many technology areas. Whirlpool Group of innovative drive type is committed to providing consumers around the world with solutions to meet their needs, achieving a win-win situation between business and users. Innovative advantages: anti-electric wall technology of Whirlpool and dual-power technology of Whirlpool washing machine have also been included in the IEC internationalShow MoreRelatedSwot Analysis : Strategic Planning745 Words   |  3 PagesSWOT analysis has been identified as a defective tool used in the strategic planning due to its unsystematic and its non-quantitative nature that which does not have a predictive power. The Meta-SWOT has been introduced as an alternative bec ause it does not consider market as one of the major determinants of the environment, but gives an opportunity in the resources and the potential in establishing the competitive advantage. The Meta-SWOT is crucial in making various decisions and how they can beRead MoreSwot Analysis : Strategic Planning Essay2228 Words   |  9 Pagesmarket, strategic planning must take place to guide an organ-izations sense of direction, priorities, and decision making to reach aspiring objectives. Strategic planning is important to an organization to define values, creating cohesive visions, chart a direction and set goals for future growth (Burris, n.d.). To aid in identifying this, organi-zations utilize what’s known as the SWOT analysis; which refers to Strengths, Weaknesses, Op-portunities and Threats. Why use the SWOT analysis you askRead MoreSwot Analysis : Strategic Planning Essay1516 Words   |  7 Pagescircumstances while staying competitive. Strategic planning is where each company starts. Airgas is an American company that has just been purchased by the European company, Air Laquide. We are going to develop a strategic plan to grow their business over the next three years. 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In marketing, strategic planning is to anticipate the possible outcome and determine the best method to achieve organizational objectives. In order to achieve organizational objectives, an organization has to plan its strategy and direction as well as decide on allocatingRead MoreThe Global Tourism Industry Is Growing998 Words   |  4 Pagescompetitors, Mr. S realized that to find a proper strategic plan was necessary and urgent for the company. SWOT, as a business-assessment tool, helps management analyze its strengths, weaknesses, opportunities and threats (Berg Pietersma, 2015). Regardless of its limited merit, SWOT analyses are popularly applied in the reports of market research, stockbroker analysis, financial diligence reports, etc. (Evans, 2013). 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