Week 2 Discussion Reply Summary

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770

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Management

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Feb 20, 2024

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Discussion Reply Summary In this week’s discussion external environment, power/weakness, and decision models the author shared that everything beyond the business's walls that has an impact on the firm is considered the external environment. The writer goes on to explain how analysts use information to understand work. Next in the discussion the author examines the external environment providing information with regards to planning, structures, threats, advantages, and disadvantages. While discussing the multifaceted nature of how to analyze the copious amounts of information that can be gathered the author notes the decision-making tools of PESTEL and SWOT analysis for determining factors that impact the firm. In the business strategy development portion of the discussion the author invests heavily in the idea of monitoring in order to evaluate the external environment the discussion moves rather quickly to strategic thinking, this section is where the bulk of the discussion is made, discussing the various key sources of power. Lastly a return to various models used by organizations to make decision, again discussing the SWOT analysis as well as the administrative decision-making model and the retrospective decision-making model. Agreement with Discussion There is agreement with the assessment made by the author and this discussion only intends to add to the discussion with further detail that could warrant additional scrutiny. Specifically, the author spent a great deal of time in two sections discussing the SWOT analysis. So it is that specific tool that this reply will seek to add knowledge too. The SWOT analysis is a tool that has been used in organizational analysis for quite some time. A SWOT analysis can help bridge the gap between methodological hurdles and effect measurement implementation in

systematic quality management (Leiber et al., 2018). SWOT's empirical foundation began in 1952 at Lockheed's Corporate Development Planning Department. In 1962, Robert Franklin Stewart, a previously unknown pioneer, became the leader of the Stanford Research Institute's Theory and Practice of Planning section. Stewart released the "SOFT Approach" in a paper that was employed by many significant corporations throughout the world in 1965. He proposed a rational set of processes for creating business goals in it. Staff planners must first gather the values of stakeholders. Then each manager evaluates what has to be done for each of his own activities to ensure that current operations are adequate, that opportunities are available, that defects are corrected, and that future operations are not jeopardized. These value judgements are then incorporated into senior management's company purpose direction statements. SOFT became Strengths, Weaknesses, Opportunities, and Threats in 1967 (Puyt et al., 2020).

References Leiber, T., Stensaker, B., & Harvey, L. C. (2018). Bridging theory and practice of impact evaluation of quality management in higher education institutions: a SWOT analysis. European Journal of Higher Education , 8 (3), 351–365. https://doi.org/10.1080/21568235.2018.1474782 Puyt, R., Lie, F. B., de Graaf, F. J., & Wilderom, C. P. (2020). Origins of SWOT Analysis. Academy of Management Proceedings , 2020 (1), 17416. https://doi.org/10.5465/ambpp.2020.132

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