Only a few decades ago, we hardly heard of the marketing strategies and instead, the term business policies were often used. Organizations were engaged in business decisions by analyzing and making changes internally. It was without paying attention to their (external, or uncontrollable) environments in which they were functioning. It was, then, a practical approach since their environment was relatively stable. As a result, organizations were mainly concerned with examining and making decision based on their strengths and the weaknesses (“SW”).
Shortly after organizations were faced with the invasion of the export of goods and services from multiple countries such as Japan, Germany and China. The sudden competition have prompted organizations to become concerned about their competitive environments. They began to analyze the opportunities and the threats of their environments (“OT”).
Therefore, business policies led way to the term strategic marketing, which is based on SWOT analysis. The fast-paced changing environment is not solely about competition. Rather, the economic, technological, socio-cultural and political-legal, environments all play critical roles in the SWOT analysis.
At Piaget Consulting, we’ll conduct a thorough organizational SWOT analysis, and we’ll provide a comprehensive recommendation.