Tuesday, February 18, 2020

Discussion Questions for Strategic Management Assignment

Discussion Questions for Strategic Management - Assignment Example Terms used to refer to this process or part of includes appraise, analyze, assess critique, examine grade, inspect judge rate rank review study test etc† (Russ-Eft & Preskill, 2009). Evaluation provides a framework for improving works as well as measures to attain the organizational goals as follows: Evaluation provides valuable information to the organization on how to use long term strategic planning and improvements in overall functioning. It helps the areas which need to be improved, strengthened and modified. When the organization adapts to a new environment, there arises a need to change their technologies for which organizational evaluation comes to the rescue. Feedback from evaluations can be a valuable experienced input for future planning. Evaluation helps to keep key information in the right track. Organizational evaluation can be detrimental in some situations if it is not carried out carefully. Evaluation may lead to change or uncomfortable situations inside the or ganization. The outcome might be negative if there is no skilled evaluating team. Inefficiency may lead to increase in cost and time which in turn may affect the overall functioning of the organizations. ... 81). The SWOT analysis (Strength Weakness Opportunity and Threats) is a common tool which facilitates the strategic review of a particular organization. The factors strength and weak ness are considered as internal factors while the latter two are external factors. Strengths can be treated as competitive advantages or positive traits. SWOT analysis is a careful evaluation of an organization’s internal strengths and weaknesses as well as environmental opportunities and threats† (Griffin, 2008,  p. 203). The strengths and weaknesses of an organization can be assessed by asking themselves the following questions like What are the strengths of the company? In what areas is the company weak? What does the company do well? What does the company not do well? What resources can the company call upon? How does this compare to their needs? An example of a SWOT analysis of a small firm can be seen as its strengths being extremely qualified staff, an outstanding record of strength and strong financial conditions with little debt. Weakness can be seen to be poor location, public awareness, and inadequate physical facilities. Opportunity is strong economy, large population in that area and closure of few other organizations. Threats are unpopular publicity, new requirements of local governments, opening of new companies in that street and so on. That is the first idea of matching the internal and external parameters in general was transformed in more precise method of SWOT analysis in the 1960’s (Pahl & Richter, 2007, p. 2). Value, rarity, imitability and organizational analysis of resources and capabilities are the four important aspects and have a number of ramifications for the competitive

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