Need a brief summary of strategic analysis and why it is important. How can Mcdonalds benefit from it?

 

Strategic analysis is a process through which the internal and external working environment of a business, organization or company are assessed in a bid to come up with a strategic plan which outlines goals, objectives and how to achieve them. In some cases, strategic analysis is used to correct and improve previous plans.

Internal strategic analysis checks on the strengths and weaknesses of an organization and how they affect the current performance and future impacts on the organization's potential.

Market forces and customer feedback must be analysed in order to improve service and product delivery.

a number of Tools can be used to carry out strategic analysis and these include: SWOT analysis. PEST and Value chain analysis.

Importance

-Through strategic analysis, an organization gets to identify opportunities which can be used in market penetration. McDonald's can benefit from strategic analysis in growth strategy as well as increase their market dominance on a given product such as french fries.

-Diversification is one of the strategy in which organizations develop new product for relatively newer markets. McDonald's through strategic analysis coupled with a very clear path could increase their menu offers in different cultures.

-improve in employee satisfaction. The recent employees complaints at Mc Donald's could be sorted by a proper strategic analysis especially in the financial aspect.