SWOT Analysis as the Decision making Support Tool to Conduct Competitive Analysis and Strategic Planning: An Update
Journal Title: Scholars Journal of Economics, Business and Management - Year 2017, Vol 4, Issue 8
Abstract
Abstract:Many companies are conducting a SWOT analysis as part of the strategic planning process to identify the organizations’ strengths, weaknesses, opportunities and threats before proceeding to the formulation of corporate strategy. This review outlines the theory and contributions of SWOT analysis in organization, institution and developing marketing strategy. Moreover, the impact of SWOT analysis as central to strategic planning was highlighted herein. Furthermore, we stressed our review on evaluating the relationship between SWOT analysis and strategic management and finally we provided benefits and prospective of SWOT analysis for different strategic planning and decision making of private companies. Keywords:Strategic planning, Decision making, Strengths, Weaknesses, Opportunities, Threats
Authors and Affiliations
Isabelle Musanganya, Jean Paul Sinumvayo
Keywords
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