What's SWOT in strategic analysis?
Environmental analysis is a critical part of the strategic management planning process. The SWOT (Strengths, Weaknesses, Opportunities, Threats) framework is proposed by many as an analytical tool which should be used to categorise significant environmental factors both internal and external to the organisation. If used simplistically, the SWOT framework is a ‘naive’ tool which may lead to strategic errors. SWOT can easily be viewed as a static analytical tool with emphasis solely on its output when the converse is true. SWOT should be a dynamic part of the management and business development process. Adoption of the approach proposed here with emphasis on process values as well as output is strongly recommended.
Citation:Pickton, D.W. and Wright S. (1998) What's SWOT in strategic analysis? Strategic Change, 7 (2), pp. 101-109.
Research Group:Competitive Intelligence-Management Interface Teaching and Research Initiative (CIMITRI)