SWOT Analysis (or SWOT Matrix) Part III
SWOT Analysis (or SWOT Matrix) Part III
Corporate planning
As part of the development of strategies and plans to enable the organization to achieve its objectives, that organization will use a systematic/rigorous process known as corporate planning. SWOT alongside PEST/PESTLE can be used as a basis for the analysis of business and environmental factors.[6]
- Set objectives – defining what the organization is going to do
- Environmental scanning
- Internal appraisals of the organization's SWOT, this needs to include an assessment of the present situation as well as a portfolio of products/services and an analysis of the product/service life cycle
- Analysis of existing strategies, this should determine relevance from the results of an internal/external appraisal. This may include gap analysis of environmental factors
- Strategic Issues defined – key factors in the development of a corporate plan that the organization must address
- Develop new/revised strategies – revised analysis of strategic issues may mean the objectives need to change
- Establish critical success factors – the achievement of objectives and strategy implementation
- Preparation of operational, resource, projects plans for strategy implementation
- Monitoring results – mapping against plans, taking corrective action, which may mean amending objectives/strategies[7]
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