Chapter 5, Problem 32DQ

Summary Introduction

To determine:

How might SWOT analysis be helpful to Inditex executives and to Zara store managers.

Introduction:

Strategic management is a process which involves all basic management functions like planning, organizing, leading, controlling. The strategic management process gives power to the actions of the organization to achieve the desired goals. It is crucial to evaluate the external and internal environment of the business for formulating a successful strategy.

SWOT Analysis:

SWOT stands for Strength, Weakness, Opportunity, and Threat. This analysis helps to identify the internal Strength and Weakness and external Opportunity and Threat for the organization and help in the planning process. SWOT analysis helps the decision makers to understand the business environment and their organization's abilities.