In order to respond to the complex competitive environment, it is really critical that the firm and its management must undertake systematic understanding of the external environment. The assessment of the environment in order to identify the opportunities and threats to the…
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t dynamics and how the firm can basically tailor its strategies to take benefit out of the opportunities arising while at the same time successfully meeting the challenges.
In order to effectively implement the SWOC it is critical that the firm must give due weight age to the external as well as internal environment. It is therefore critical that the assessment of both these environments shall be perfected in order to ensure that all the relevant factors are comprehensively identified and understood before making policy initiatives. The development of snow card techniques in order to clearly identify the strengths, weaknesses, opportunities as well as the challenges shall be more simpler in the sense that it must allow the firm to distinguish between the various complexities in order to achieve clear picture of what is required and what needs to be done in order to successfully achieve the desired outcomes from the overall strategic management process. The implementation stage of this step also must address the important question of how the firm will be able to utilize its strengths to overcome the challenges and take advantage of the opportunities.
Once the SWOC is completed, the next issue involved is the identification of the strategic issues that an organization may face owing to the factors identified in the SWOC Analysis. What is critical to note that the organizations must be able to comprehensively identify the above factors and must be able to map the impact of these variables on the on the intended objectives of the firm. (Bryson, 2004)
In order to complete this step, the organization is therefore first required to clearly categorize the outcomes into operational as well as strategic depending on the nature of the issue. Once issues and their actual classification is achieved, next step involve the assignment of all such issues to the concerned for solving purpose. This step is probably the more detailed one as it involves a constant and comprehensive
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“Assignment 6 Strategic Planning Process - Steps 4, 5, 6, and 7 Essay”, n.d. https://studentshare.org/miscellaneous/1562723-assignment-6-strategic-planning-process-steps-4-5-6-and-7.
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