Strategic Management in the P-O-L-C Framework
Completion requirements
After reading this section on the best practices for conducting a SWOT analysis, note the model's applicability to an organizational setting. Take the opportunity and try to answer the exercises at the end of the section.
5.2 Strategic Management in the P-O-L-C Framework
Exercises
- What is the difference between strategy formulation and strategy implementation?
- What is the difference between business strategy and corporate strategy?
- What are some of the forms of diversification, and what do they mean?
- What do you learn from a SWOT analysis?
- In SWOT analysis, what are some of the tools you might use to understand the internal environment (identify strengths and weaknesses)?
- In SWOT analysis, what are some of the tools you might use to understand the external environment (identify opportunities and threats)?