effective technique a firm can use to appraise its internal strengths and weaknesses and external opportunities and threats is referred to as (a)__________.
A) SWOT analysis
B) strategic management planning
C) environmental scanning
D) market-product grid analysis
E) marginal analysis

Question

Quizplus · Accepted Answer

SWOT analysis is the most effective technique for appraising internal strengths and weaknesses as well as external opportunities and threats. It involves assessing the company's strengths and weaknesses in terms of its internal resources and capabilities, such as its workforce, brand image, and financial stability, and external factors such as competition, technology, and regulatory environment. By analyzing SWOT (Strengths, Weaknesses, Opportunities, and Threats) factors, firms can formulate effective strategic plans and make informed decisions. Strategic management planning, environmental scanning, market-product grid analysis, and marginal analysis are also important techniques, but they do not provide a comprehensive assessment of the internal and external factors affecting the firm's performance.

Effective Technique a Firm Can Use to Appraise Its Internal