Once the strategic analysis of the firm has been completed, the strategy maker’s responsibility is now to take the initiative for setting objectives. These objectives would form the basis for formulating a strategy: as stated earlier, there can be no strategy without an objective. In fact, the strategic analysis provides adequate information for setting objectives…
Organizational environment denotes internal and external environmental factors influencing organizational activates and decision making.
Environmental analysis facilitates gauging the present situation of the organization and helps in predicting the future.
Managers use Porter’s Five Forces Model to analyze competitive forces in the industry’s environment and identify the industry-related opportunities and threats confronting their company.
Thompson and Strickland’s Seven Forces Model model for the analysis of the industry is based on seven forces to provide comprehensive treatment for the analysis of the issues in the industry.
SWOT analysis is a useful tool for analyzing an organization’s overall situation. This approach attempts to balance the internal strengths and weaknesses of the organization with the external opportunities and threats.