SWOT Analysis Of An Organization's Retength And Strengths

Introduction

Companies put in place corporate strategies in order to expand their current business line, to remain competitive or ahead of the competition and most importantly to fulfill their mission statement. According to Bird & Smith (2015), strategic planning clarifies the organization’s purpose, and determines the future. Therefore, identifying the organization’s strengths and weaknesses is an integral step in this process.

As will be discussed further, these strengths and weaknesses will be identified through a SWOT analysis. Out of this analysis, an organization can identify an opportunity to be explored. As a result, a PIC (Product Innovation Charter) is created by senior management. According to Crawford & Di Benedetto (2011), the PIC will serve as a guide to the business regarding the innovation that will occur. This paper will create a SWOT analysis as well as a PIC for Alexander Mann Solutions, a RPO company.

SWOT Analysis

The SWOT analysis can be used by both existing and new businesses. As the market continues to change and evolve, companies should be able adapt to these changes. Therefore, existing businesses use the SWOT analysis in order to keep informed of the different changes and assess the changes that has been made in order to remain competitive. It is recommended that a SWOT analysis be conducted at least once a year in existing businesses. On the other hand, new businesses conduct a SWOT analysis in order to begin their strategic planning process. They must know their strengths and weaknesses in order to properly position themselves in their