Strategic Management in the P-O-L-C Framework

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

  1. What is the difference between strategy formulation and strategy implementation?
  2. What is the difference between business strategy and corporate strategy?
  3. What are some of the forms of diversification, and what do they mean?
  4. What do you learn from a SWOT analysis?
  5. In SWOT analysis, what are some of the tools you might use to understand the internal environment (identify strengths and weaknesses)?
  6. In SWOT analysis, what are some of the tools you might use to understand the external environment (identify opportunities and threats)?