question archive Choose the top 1 or 2 of the alternatives and identify this as your recommendation
Subject:BusinessPrice: Bought3
Choose the top 1 or 2 of the alternatives and identify this as your recommendation. Tell why you chose this strategy.
Types of strategies:
SO strategy
- Strengths & opportunities
- Use of internal strengths to exploit external opportunities
- Consider all strengths one by one listed in the SWOT analysis with each opportunity to determine how each internal strength can help you capitalize on each external opportunity
- For example… strengths such as high brand recognition or customer loyalty could be combined with the opportunity to launch a new product or service
ST strategy
- Strengths & threats
- Use of internal strengths to avoid or minimize the impact of external threats
- consider all strengths one by one listed in the swot anakysus with each threat to determine how each internal strength can help you avoid every external threat
WO strategy
- Weakness and opportunities
- Overcoming internal weakness by exploiting external opportunities
- Consider all weaknesses one by one listed in the swot analysis with each opportunity to determine how each internal weakness can be eliminated by using each external opportunity
- May have identified an opportunity to outsource some aspects of its business operations, overcoming the weakness of lack of specific skills within the organization
- For example…
WT strategy
- Weakness and threats
- Overcoming internal weakness and minimizing external threats
- Consider all weaknesses one by one listed in the swot analysis with each threat to determine both can avoid
- For example… strategies could include developing strategic alliances or a more drastic strategy could be to withdraw from specific market altogether