Management Analysis Techniques Essay example
Strategic planning of an organization explains the "where we want to be and who we want to be" as an organization. The six major components of strategic planning consist of a mission statement, a vision statement, organizational values, goals, objectives, and action plans (Baker & Baker, 2014, p. 253). A mission statement is ageless and declares why the organization exists. It is a representation of the organization now in addition to future endeavors the organization wants to accomplish. The vision statement declares what the organization wants to be or even what the organization desires to be in the future. The values are the core beliefs of the organization. The …show more content…
These three parts of the strategic planning help to aid in reaching the same goal for everyone associated with an organization. Without the mission statement, vision statement, and values, an organization would be constantly faced with chaos and arguments. With these three components in place, everyone proceeds in the same direction and aims at the same goal.
5. Identify the four components of a SWOT analysis.
The SWOT analysis is an excellent tool used by organization. Danca (n.d.) describes it as a basic, straightforward model providing direction and a development for a marketing plan for an organization. It analyzes the internal and external issues of an organization. SWOT is defined as the strengths, weakness, opportunities, and threats of an organization.
The strengths and weakness are part of the internal analysis of the organization. The strengths may be individualized or as a whole by the organization. The strengths are immediately processed. The weaknesses may also be individualized or as a whole by the organization. These internal issues must be understood and dealt with on a continuing basis (The