SWOT Analysis

The need for a tool to execute in order to meet your organizational goal is a very critical guideline. Here are some details of a tool I believe is appropriate.

A good tool for IT Strategy is that of the SWOT Analysis. The SWOT acronym stands for: Strength, Weakness, Opportunities, and Threats. SWOT Analysis allows an organization to examine themselves internally and see how they stand in their market and or against competitors. In doing this an organization is able to collect data that will them to make decisions necessary to buildout strategy to get them in the position they desire to be.

Strategic Management Insight lists the following Benefits regarding the SWOT Analysis tool:

Benefits:

• Simple to do and practical to use; [1]
• Clear to understand; [1]
• Focuses on the key internal and external factors affecting the company; [1]
• Helps to identify future goals; [1]
• Initiates further analysis. [1]

While the SWOT Analysis is a tool, no tool is perfect but one can agree that the SWOT Analysis is a great tool to begin initial discovery and high level examination of an organizations “health”.

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References:

1.Ovidijus Jurevicius. 2013. The Structure of a Good SWOT – How to do it Right. (February 2013). Retrieved February 11, 2018 from https://www.strategicmanagementinsight.com/tools/swot-analysis-how-to-do-it.html

Acknowledgement:

IT7833 Exercise 3 – Tools