It is valid to say that the evaluation of internal and external factors should be based on organizational vision and mission statements. As stated by Fred and Forest (2016), they specify the firm’s ultimate goals and aspirations, provide a foundation for strategic planning, as well as organizational structure in general. For this reason, during the SWOT analysis, it is appropriate to pay greater attention to factors, which are related to goals outlined in the organization’s mission and vision statements.
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For instance, if the firm pursues customer satisfaction and loyalty, managers should evaluate such firm-specific factors as current customer service capabilities, the understanding of customer focus values by employees, product and service quality, and other relevant areas of performance. It is also important to assess market-specific customer and demand trends, innovations, and other factors, which may contribute to an increase in customer satisfaction.
Overall, these specific factors should help managers answer the following question: how to use strengths to take advantage of opportunities and address weaknesses that can make the identified threats a reality and interfere with the realization of organizational vision? (Hashemi, Samani, & Shahbazi, 2017). At the same time, factors that are not closely and directly linked to the stated objectives and goals can be considered generic and evaluated less thoroughly.
Fred, D., & Forest, D. (2016). Strategic management: A competitive advantage approach, concepts (16th ed.). Harlow, UK: Pearson.
Hashemi, S. M., Samani, F. S., & Shahbazi, V. (2017). Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis and strategic planning for Iranian language institutions development. Journal of Applied Linguistics and Language Research, 4(2), 139-149.