SWOT Analysis: Strategic Plan

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When the employees get on board with the plan and start doing thing correctly, it can be seen the effects of the new plan. The plan is now in action, and the management must make sure it is effective. Most of the time employees will communicate and follow up with management after a new plan is implemented. The lower level managers will communicate with higher ups, and then that is when it is know if the plan is making a positive impact on the company. This is the part where any critiquing of changes of the plan will need to be made. After the implementation of the plan, and the evaluation if it is successful then keeping it going is necessary (Gamble, Thompson 2011). The new plan is now the expectations of the employees. It needs to be known …show more content…
Management needs to do SWOT analysis before creating their strategic plan, in order to be successful (Gamble, Thompson 2011). The first letter strands for the strengths of the company. Strength comes from the companies resources. When analyze a company’s strengths a manager needs to look at the market, and use financial ratios to analyze the profit margin (Gamble, Thompson 2011). Some resources would include money, products, business alliances, or even the customer base. The company’s brand name could be an asset, with a good customer base (Gamble, Thompson 2011). They also need to look at the demand for the product that is being offered, a high demand is strong …show more content…
If a manager creates a plan without knowing the internal operations of the company which would be strengths and weaknesses, then that plan would be at risk to fail. There is not a way to accomplish objectives without being able to use a business’s strengths, to overweigh the weaknesses. The second part the opportunities, and threats is an external environment of the company (Gamble, Thompson 2011). It is the environment in which the company operates in. Without knowing the operating environment it would be hard to prepare a vision for a

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