Why is the internal organizational analysis important to strategic management planning?
When developing a strategic business plan, a company must analyze internal and external environments to be effective. A company can reduce the time needed to complete a strategic plan by conducting a SWOTT analysis. However, a strategic plan can be developed without a SWOTT but the analysis certainly helps outline the plan. In lieu of a SWOTT analysis, a company can employ other methods like the resource-based view or a value chain analysis.