list and explain the internal and external factors that an organization need to access for formation...

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Operations Management

list and explain the internal and external factors that anorganization need to access for formation of successfulstratergies

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There can be many different factors that may influence the strategies and their planning in a business organization The prominent ones include the internal factors the external factors as well as the leadership Some of these factors may be more static when compared to others and a strategy may lie on a continuum that lies between the emergent and the planned or deliberate strategies Methods used for strategic planning including the SWOT Strengths Weaknesses Opportunities Threats analysis take an overview of the internal factors the strengths and weaknesses as well as the external factors including opportunities and threats in a given market to make a successful strategy A study of the internal and external factors help firms contemplate and choose the best strategies that can help it attain the objectives and goals it desires Internal Factors To Be Assessed For Formulating Successful Strategies The study of the internal factors helps a firm know its weaknesses and strengths better Firms can know more about their cost and expenditures and put value to expenses including fixed costs operational costs research expenses and training expenses all vis a vis the competitors to judge how much resources can be acquired to gain market leadership See Answer

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