Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Prompt: Tools for External Strategic Analysis: Most organizations understand the importance of an internal and external analysis of their organization. An external analysis is used
Prompt: Tools for External Strategic Analysis: Most organizations understand the importance of an internal and external analysis of their organization. An external analysis is used to determine the opportunities and threats within the industry which will drive the profitability, growth, and volatility of the organization Porters Five Forces, Force Field Analysis, PESTLE Analysis An internal analysis highlights the organization's strengths and weaknesses in relation to its competencies, resources, and competitive advantages SWOT Value Chain, GrowthShare Matrix, McKinsey Matrix Once the internal and external analysis is complete, the organization should have a clear idea of where it is thriving, where it is surviving, and where there is a deficient so as to identify gaps and opportunities for improvement. Based on this, assess the importance of utilizing external strategic management tools like Porters Five Forces, Force Field Analysis, and PEST as well as any others you find in your research for the strategic leader.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started