The SWOT analysis is a tool widely used by many organizations and business leaders throughout the world; however, a critical component of the effective use of a SWOT is the appropriate application of the information gathered from the analysis. For this Discussion, you will investigate opportunities for applying a SWOT analysis for effectiveness in both the strategic planning process and encouraging innovation within a selected organization.
To prepare for this Discussion, select a strategy practice case from Dyer, Godfrey, Jensen, and Bryce (2016) presented in the week’s Required Readings, and consider how SWOT data can be effectively used within strategic planning initiatives to gain or maintain a competitive advantage for this specific organization. Be sure the case you select provides an exhaustive overview of the organization’s business climate for strategy.
Post an assessment of the value of SWOT analysis as a contextual strategic planning tool. Your assessment should include the following:
- A brief description of your chosen case, including industry and relevant background information
- An explanation of which parts of a SWOT analysis could provide the greatest value from a strategic planning perspective, including specific examples from your chosen case
- An analysis of how SWOT data could be used to increase this organization’s competitive advantage
- An analysis of how the SWOT data could be used to increase innovation within this organization
Be sure to support your work with a minimum of two specific citations from this week’s Learning Resources and at least one additional scholarly source.