answersLogoWhite

0

Strategic analysis is "the process of developing strategy for a business by researching the business and the environment in which it operates." It is important because it helps a business determine how it can reach its goals using available resources.

User Avatar

Wiki User

11y ago

What else can I help you with?

Continue Learning about Management

Explain the Importance of strategic planning in MIS?

what is the importance of strategic planning in mis?


What are the strategic importance of HRM?

to fire and hire employees


What is the definition of strategic?

Of importance in war, to destroy the enemy's moral.


What are the steps in the strategic management process?

The strategic management process typically involves several key steps: first, conducting a thorough environmental analysis to assess internal strengths and weaknesses, along with external opportunities and threats (SWOT analysis). Next, organizations set clear goals and objectives based on this analysis. Following goal-setting, strategic options are developed and evaluated, leading to the formulation of a strategic plan. Finally, the implementation of the strategy is carried out, followed by ongoing evaluation and control to ensure the strategy remains effective and relevant.


What is strategic analysis?

Strategic analysis is about looking at what is happening outside your organisation now and in the future. It asks two questions: * How might what's happening affect you? * What would be your response to likely changes? It's called strategic because it's high level, about the longer term, and about your whole organisation. It's called analysis because it's about breaking something that's big and complex down into more manageable chunks. Strategic analysis is about looking at what is happening outside your organisation now and in the future. It asks two questions: * How might what's happening affect you? Strategic analysis is about looking at what is happening outside your organisation now and in the future. It asks two questions: * How might what's happening affect you? * What would be your response to likely changes? It's called strategic because it's high level, about the longer term, and about your whole organisation. It's called analysis because it's about breaking something that's big and complex down into more manageable chunks.

Related Questions

What is the Value of ratio analysis to the strategic decision making of an organization?

Importance of financial ratio analysis on investment decision making?


What is the importance of conducting a SWOT analysis for a business's strategic planning?

Conducting a SWOT analysis is important for a business's strategic planning because it helps identify its strengths, weaknesses, opportunities, and threats. This analysis provides valuable insights that can inform decision-making, improve competitiveness, and maximize the business's chances of success in the market.


What is the meaning of business analysis?

The meaning of business analysis is to identify the needs of a business and determining how best to achieve those needs. For example, what strategic changes does a company need in order to become more successful for the future.


Explain the Importance of strategic planning in MIS?

what is the importance of strategic planning in mis?


Why were the Philippines of strategic importance to the United State?

Why were the Philippines of strategic importance to the United State?


What is the meaning of strategic skills?

strategic skills


What the conclusion the sieve analysis?

the importance of sieve analysis


What are the importance of strategic sourcing of international coopration?

There are six of the importance of strategic sourcing of international corporation listed. Some of the importance of strategic sourcing of international corporation are identifying and locating suppliers, the risk of buying the wrong items, and the approach to buying.


What is ratio analysis and importance of ratio analysis in financial management?

what is ratio analysis


What is 'strategic Hamlet'?

During the Vietnam war it was often a village (hamlet) with strategic importance.


What is the difference between current and strategic job analysis Which is more important?

A strategic job analysis is one in which a plan of action is in place to accomplish a particular goal. The current job analysis is what is currently in place that may need to be changed.


What are the types of strategic analysis?

To maximise on profits and market gap