STRATEGIC PLANNING AS A TOOL FOR COMPETITIVE ADVANTAGE: ANALYSIS OF THE APPLICATION OF SWOT IN BUSINESS MANAGEMENT
DOI:
https://doi.org/10.61164/rmnm.v11i1.3061Keywords:
Strategic planning, SWOT, SWOT analysis, Management, ToolAbstract
This paper aims to analyze the role of SWOT analysis in companies' strategic planning, investigating how this tool can be used to identify opportunities and mitigate risks. It also seeks to discuss the challenges and limitations of SWOT analysis, proposing recommendations for its effective application in the context of business management. SWOT analysis stands out among the various tools available to support strategic planning due to its simplicity and effectiveness. It is used to identify a company's strengths, weaknesses, opportunities, and threats, giving a broad view of the context in which the company operates. As a fundamental tool in business management, strategic planning allows organizations and companies to define long-term objectives and establish a path toward achieving these objectives. Within the context of strategic planning, SWOT analysis is one of the most widely used and recognized tools. The use of this tool became widespread in the 1960s and 1970s. The methodology used in this study is qualitative in nature and the interpretation of the data was based on triangulation of sources, thus increasing the validity of the results obtained. The results show that SWOT analysis is not just a diagnostic tool, but an essential component in strategic planning that can lead to more effective and proactive management of organizations. SWOT analysis is an essential tool in strategically planning companies and organizations of different sizes. It serves not only as a tool for situational diagnosis but also as an amplifier for innovation and adaptation to market dynamics.
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