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Often referred to as strategic planning
or long-range planning, is concerned with developing a
corporation¶s mission, objective, strategies, and policies.
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The process of finding a strategy fit
between external opportunities and internal strengths while
working around external threats and internal weakness.
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It is a strategic planning method used to
evaluate the |trengths, eaknesses, pportunities, and
hreats involved in a project or in a business venture. It
involves specifying the objective of the business venture or
project and identifying the internal and external factors that
are favorable and unfavorable to achieve that objective.
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 characteristics of the business or team
that give it an advantage over others in the industry.
 


 are characteristics that place the firm
at a disadvantage relative to others.
 


 V
V chances to make greater
sales or profits in the environment.
 

 V
V elements in the environment that
could cause trouble for the business
 ë


0 The 2
V
2 and VV22V2
internal to the organization.
 ^


0 The ÷ ÷



V2 and
V
2
presented by the external environment to the
organization. -
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u. It generates lengthy lists.
2. It uses no weights to reflect priorities.
3. It uses ambiguous word and phrases.
4. The same factor can be placed in two categories (e.g.
a strength may also be a weakness.)
5. There is no obligation to verify opinions with data or
analysis.
6. It requires only a single level of analysis.
7. There is no logical link to strategy.
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 ||

 
|| — chart that summarizes an organization's
strategic factor by combining the external factor from
an ^| table with the internal factor from an ë|
table.
^|— table that organizes external factors into
opportunities and threats and how well management
is responding to these specific factors.
ë| — table that organizes internal factors into
strength and weakness and how well management
is responding to these specific factors.
||
 



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list the most important EF— and
IF— items. —fter each factor. It indicates whether it
is a strength, weakness, an opportunity, or a threat
R  
 —ssign weights for all for the internal and external
strategic factors. —s with EF— and IF— tables presented
earlier, the weight column must total u.00 This means that the
weight calculated earlier for EF— and IF— will probably have to
adjusted.
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—ssigns a rating of how the company¶s management is
responding to each of strategic factors. These ratings will
probably (but not always) be the same as those listed in the
EF— and IF— Tables.
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·ultiply the weight in column 2 for each factor
by its rating in column 3 to obtain the factor¶s rated score.
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Îepicted In fig, indicate short-term (less than one
year), intermediate-term (one to three year), or long-term (Three
year and beyond).
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 epeat or revise your comments for each strategic
factors from the previous EF— and IF— tables.
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  One desired outcome of analyzing
strategic factors in identifying a niche where an organization can use
its core competencies to take advantage of a particular market
opportunity
R ü  a need in the market place that is currently unsatisfied
R 

  an extremely favorable niche 0 that is so well
suited to the firm¶s internal and external environment that other
corporations are not likely to challenge or dislodge it.
R — niche is propitious to the extent that it currently is just large
enough for one firm to satisfy its demand 0 after a firm has found
and filled that niche, it is not worth a potential competitor¶s time or
money to also go after the same niche
R Finding such a niche is not always easy
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   — unique market opportunity that
is available only for a particular time.
R The first firm through a strategic window can occupy a
propitious niche and discourage competition (if the
firm has the required internal strengths)
R - —s niche grow, so can the company within the niche
0 by increasing its operation¶s capacity or through
alliances with larger firm
R - Niche can also change 0 sometimes faster than a
firm can adapt to that change