MGT W3 Internal and External Analysis Management Essay (Essay Sample)
Discuss the differences between an internal analysis and an external analysis with respect to strategic planning.
What do organizations typically analyze as part of an internal analysis, and why?
What do organizations typically analyze as part of an external analysis, and why?
How do the results of each of these analyses inform an organization’s strategic plan?
Differences between Internal and External Analysis With Respect to Strategic Planning
An internal analysis is fundamentally an exploration of the competency, competitive advantage and costs position of an organization in its designated industry. The execution of an internal analysis capitalizes on the incorporation of processes that provide all the information about the organization (Kachru, 2006). The information constitutes its strength areas, the weaknesses, the threats it faces and the opportunities that it can maximize on to enhance its organizational efficiency.
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