Question

• How SWOT analysis can be used as a strategic planning tool

• What the key performance indicators are and why they are essential to strategic planning

Answer 1

Answer:

SWOT analysis used as a strategic planning tool:

SWOT analysis can help your business identify what its doing right and what changes is needed in the organization.SWOT analysis is a planning methodology that helps the organization to build a strategic plan to meet goals,improve operations and keep the business relevant and updated.SWOT analysis is an integral part of the company's strategic planning process because it provides a good overall view of the company's current and forward looking situation.The strengths and weakness provide a look at the company's current situation whereas threats and opportunities help the company project possibilites and challenges going forward

Key performance indicators and essential to strategic planning:

Key performance indicators are procedures that stakeholder's and managers use to determine their firm's achieve ment.SWOT analysis is an approach to planning which involves checking and measuring the performance against expectations.

Performance indicators of SWOT analysis is Strengths,weakness,opportunities and threats.

SWOT analysis is a way to identify any factors in order to design a strategic plan for the firm.The analysis is done to maiximize strengths and opportunities and minimize weakness and threats

SWOT analysis compares the external threats and opportunities  to the internal strengths and weakness of the company.So considering all the facotrs ,strategic plan is proposed for the company.