Overview

Strategy is a method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem.

Strategic Planning

Strategic Planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people.

Strategy Definition

A good strategy provides a clear roadmap, consisting of a set of guiding principles or rules that define the actions people in the business should take (and not take) and the things they should prioritize (and not prioritize) to achieve desired goals.

SWOT Analysis

SWOT analysis is a strategic planning technique used to help a person or organization identify the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.[1] It is intended to specify the objectives of the business venture or project and identify the internal and external factors that are favorable and unfavorable to achieving those objectives.

Strengths and Weakness are frequently internally-related, while Opportunities and Threats commonly focus on environmental placement.

  • Strengths: characteristics of the business or project that give it an advantage over others
  • Weaknesses: characteristics of the business that place the business or project at a disadvantage relative to others
  • Opportunities: elements in the environment that the business or project could exploit to its advantage
  • Threats: elements in the environment that could cause trouble for the business or project
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