Identify strategies from organizations that minimize the each of the threats and maximize each of the opportunities identified from the external environment in regard to technology and economy, please add references and would like at least 1000 words please.
The strategies that minimize threats and maximize each of the opportunities identified from external environment in regard to technology and economy is the use of the scanning of internal and external environment with SWOT Analysis tools. SWOT analysis is an important analytical tool for strategic planning that stands for strength, weakness, opportunities, and threats. The SWOT analysis identify the positives and negatives inside your organization (S-W) and outside of it, in the external environment ( O-T). The SWOT analysis can fit into strategic situation analysis. In SWOT analysis, there are internal analysis and external analysis. The Internal Analysis include strengths and weaknesses. The external analysis include opportunities and threats. SWOT analysis begins by evaluating the current situation in respect of the internal and external environment of the business. The evaluation of the current situation will lead to the identification of internal and external factors affecting business. The internal factors can be strength, but can be some type of weaknesses of business, but external factors can be the opportunities or threats to the business. The purpose is to determine whether an internal factor is strength or weakness of our business and whether an external factor is opportunity or threat for our business.
There are several strategies that should be taking advantage of opportunities that fit the strengths of the business. These strategies take advantage of opportunities that fit the strength of the business.
One strategy is the S-O strategies (Strength-Opportunity Strategies) that …
This solution identifies at least four main strategies that minimize threats and maximize opportunities identified from the external environment in regard to technology and economy. It defines each strategy and lists its strength and weaknesses. All references used are included.