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Strategic management: the importance of and reasons for internal analyses of strengths and weaknesses.

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Summarize the importance of and reasons for internal analyses of strengths and weaknesses. Indicate how the findings and conclusions are used to improve internal operations and integrate with external issues to build a sustainable competitive advantage. Give company examples that illustrate both success and failure in building a sustainable competitive advantage.

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This solution provides an overview of the importance of companies analyzing their strengths, weaknesses, opportunities, and weaknesses (SWOT). Additionally, this solution provides an example of companies that have used a SWOT analysis to build a sustainable competitive advantage.

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A SWOT analysis stands for the Strengths, Weaknesses, Opportunities and Threats. It's always important for management to be aware of the SWOT of a company to better understand where their company stands amongst other businesses within the same or similar industries. One great advantage of doing a SWOT analysis is after a manager recognizes the company's strengths and weaknesses; the manager can devise a plan on how to remain strong ...

Solution provided by:
Keonda Grant-Taylor, MBA
Education
  • Doctorate of Management in Organizational Leadership, University of Phoenix - Online
  • MBA, Webster Univeristy
  • Dual BS Degrees, University of South Carolina
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