A technique for assessing the 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

Assessing the organization's strengths, weaknesses, opportunities, and threats normally is referred to as a SWOT analysis. Strengths and weaknesses refer to internal resources. Opportunities and threats arise in the macroenvironment and competitive environment.

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