components of SWOT analysis, SWOT has four components.internalstrengths and weaknesses,
individual strategies while practicing organizations activities,
TOWS Matrix ant its strategies, Timing Tactics adopted by Organizations - role of first movers, second movers, and late movers, play in explaining timing tactic concepts.
3. The most widely used technique for
conducting situation analysis is the
SWOT analysis. SWOT analysis was
developed at
Stanford Research Institute during the
1960s. SWOT stands for Strengths,
Weaknesses, Opportunities, and Threats.
4. The internal environment includes the
strengths and weaknesses of an
organization; whereas, the external
environment
includes the opportunities and threats.
Situation analysis refers to identifying
internal strengths and weaknesses, and
external
5. While performing the SWOT analysis,
The organization needs to answer the following
questions:
• How is the organization better than its competitors
are?
• What unique skills or resources does it possess?
• How are the competitors better than the organization?
• What unique skills or resources do the competitors
possess?
• What are the market opportunities that remain
unutilized?
• What are the changes in the external environment that
pose a threat to the organization?
6. SWOT has four components which are
discussed as follows
Strength Weakness
Opportunity Threat
7. Q38. What refer to individual
strategies that are practiced by
organizations for each of their
business units separately?
8. Business-level strategies refer to individual
strategies that are practiced by organization for
each of their business units
separately. In a large organization, each of its
business unit is termed as a Strategic Business
Unit (SBU). Every SBU has its
own unique strategy.
9. Managing and integrating the activities
Building the competencies
Identifying the markets for products or
services
Examining and evaluating the strategies
10. Q39. “TOWS Matrix shows how the
external opportunities and threats
can be matched with the internal
strengths and weaknesses.” How?
11. TOWS Matrix shows how the external
opportunities and threats can be matched with
the internal strengths and weaknesses.
Thereby, TOWS Matrix helps in developing
four sets of alternative strategies.
13. The four sets of strategy developed by
the TOWS Matrix are as follows:
S-O
Strategies
S-T
Strategies
W-O
Strategies
W-T
Strategies
14. Q40. What role first movers, second
movers, and late movers, play in
explaining timing tactic concepts?
15. Timing tactics deal with the time of
implementing a business strategy. The timing
to apply a business strategy plays an
important role in the success of a strategy.