MGT 498 (Strategic Management)Week 2 Complete DQ's & Assignments

In week one we discussed mission statements and vision statements. These are used to develop goals and objectives for the organization. There are other things that also need to be done before goals and objectives are done. Please spend a few moments reviewing what a SWOT or SWOT analysis is.  How can the results of a SWOT analysis be used to develop goals for an organization. What do we mean by environmental scanning for strategic planning?

What is the role of strategic planning in creating value for the organization? Provide an example of how a company uses strategic planning to create value for the organization. What is a competitive strategy?  Choose two or more competitive strategies and compare why each strategy may be appropriate for different companies. For example, one company may use a low-price strategy while another may go for high quality.

Think about the benefits associated with conducting a SWOT Analysis. Choose your own organization or an organization with which you are familiar and reply to this post with an analysis of the company’s strengths, weaknesses, opportunities, and threats. After posting your SWOTT analysis, take a moment to read and comment on the responses posted by some of your classmates.

What models, tools, and techniques would you use in performing an environmental analysis of an organization?

What are two major environmental changes that you expect to have an impact on your organization over the next 5-10 years?

Why do we want to create measurement devices early in the strategy process? How do metrics allow us to track the strategy process once it is implemented? How is environmental scanning helpful in choosing the appropriate metric guidelines to use?