Question

Discuss and Brainstorm approaches that you might use to gather data to identify the strengths and weaknesses of a competing organization. Identify resources, specific tools, or techniques you might apply to gain useful insights.

Answer 1

The different resources that can be used for conducting the SWOT analysis are as below-

Knowledge management methods= These are the method which can be used in order to arrange and distribute the collective wisdom of any firm. The internal reports of the organization's industry resources can be used to collect information about the various aspects and strengths of the organization.

Communication channels= The internal organization's members also analyze and predict future threats and opportunities on the basis of the prevailing market and industry patterns and trends These people can be contacted to provide their opinion about the various aspects of future trends particularly to the threats and opportunities.

Research and development activities= This is an important element to look for as the organization invests in R&D to have a better position in the future and to deal with possible threats and capitalize on the possible opportunities.

Management practices= these are important tools that can be used to understand the strengths and weaknesses of the firm. The efficiency, productivity, and implementation of managerial practices will define the strength of the firm.

Internal reports= These are also important elements as these reports are made to throw the lights on the resources of the organization and how it is limited by the various restrictions