Strategy And Change ST3S07
Assignment 2 Individual Element
SWOT Analysis; Still this efficient ?
One of the foundational frameworks of strategic management, the SWOT model, may be
fundamentally imperfect. The model developed by researchers in strategic management (Ansoff,
1965; Andrews, 1987; Porter, 1991; and Mintzberg et al. , 1998) advises managers to align their
Strengths of their company to the Opportunities of the environment, while simultaneously
safeguarding the company’s Weaknesses from the Threats of the environment.(Foss, 2006)
The purpose of a Strengths-Weaknesses-Opportunities-Threats (SWOT) investigation is to
distinguish in outline structure the key issues that now impact the business world. The
examination is constructed to give a helpful beginning stage to investigation of particular supply
chains, which regularly will be affected by some, yet not all, of the SWOT issues. Likewise with
most SWOT examination, a few issues will be qualities or opportunities for specific players, can
be the inverse for different players in the same business sector. Despite the member, a helpful
next-venture to take the SWOT investigation further is to consider dangers and opportunities
confronting any industry and endeavor to gathering them into genuine classes.
Since its elaboration during sixties of the last century till now, the SWOT analysis has always had
the reputation of one of the most popular managerial instruments. Managers may love it on
account of its extreme simplicity. Many textbooks are written on a SWOT formula: The first part
deals with the external environment, industry analysis and the second part then deals with the
firm level, i.e., competitive advantage.
The SWOT structure, with its uncertainty, inaccurate approach and various restrictions is a
casualty of its own prosperity . Given the age of the model and the changes in our society, the
model may not match today's difficult...