Strategic ManagementReading:Read Chapter 5: Strategizing, Section 2: Strategic Management in the P-O-L-C Framework in our textbook, “Principles of Management.” The textbook can be downloaded from the syllabus.Part 1answer the following questions:In a SWOT, how do internal factors (strengths, weaknesses) differ from external ones (opportunities, threats)?Provide examples of when a firm’s strength might simultaneously be a weakness.Remember that a SWOT is only one kind of tool. What are some of its limitations in diagnosing the situation of a firm?Part 2Pick any organization you are familiar with and complete a SWOT analysis for it. You may want to create a chart to help organize your ideas. Refer to figure 5.6 in the reading for an example of how to set up a chart. You may also want to review the SWOT Analysis of Flat World Knowledge as an example. Evaluate which is stronger for an organization — internal or external factors. What specific ideas from the SWOT are most important to overall strategy formulation for the organization?Prepare a two page (double-spaced) essay. The paper should be 12-point font, TimesNew Roman, be at least 500 words, and include a final source list.Part 3What would a SWOT look like for you personally? What are your greatest strengths and weaknesses? Greatest opportunities and threats?
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