Asked by Daisy Steele on May 11, 2024
Verified
SWOT analysis refers to the systematic and regular monitoring of environmental factors influencing the organization.
SWOT Analysis
SWOT Analysis is a strategic planning technique used to help identify Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.
Environmental Factors
External conditions and influences that affect the operation, performance, and strategy of organizations.
- Describe the pivotal role of conducting environmental scans and performing SWOT analysis within strategic planning.
Verified Answer
MS
Margot StevensMay 15, 2024
Final Answer :
True
Explanation :
SWOT analysis is a tool used to evaluate the strengths, weaknesses, opportunities, and threats of an organization, by analyzing its internal and external environments. It involves the systematic and regular monitoring of environmental factors to identify potential opportunities and threats that may affect the organization's performance.
Learning Objectives
- Describe the pivotal role of conducting environmental scans and performing SWOT analysis within strategic planning.