A technique for assessing an organization's internal and external environments in order to formulate strategy is called a
A)BCG Matrix.
B)SWOT analysis.
C)benchmarking strategy.
D)diversification exercise.
E)functional strategy.

Question

Quizplus · Accepted Answer

SWOT analysis is a technique used to analyze an organization's internal and external environments by identifying its Strengths, Weaknesses, Opportunities, and Threats. This analysis helps in developing a strategy that can maximize strengths, minimize weaknesses, capitalize on opportunities, and mitigate threats. The other options listed are not specifically focused on analyzing internal and external environments for strategy formulation.

A Technique for Assessing an Organization's Internal and External Environments