MGMT 320 1st Edition Lecture 15Outline of Last Lecture I. Decision makingOutline of Current Lecture I. Steps of planningCurrent LectureMGMT 320 – Planning 21. Steps of Planning (continued from 2/20)a. Analyze the situationi. SWOT1. Strengths – internala. Something we can use to grow (have)b. Examplesi. Good employeesii. Financial resourcesiii. Strong distribution systemiv. Loyal customers more likely to try to new productsv. Positive brand image2. Weaknesses – internala. Something that limits ability to grow (don’t have)3. Opportunities – external – where the business can capitalize in the marketThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.4. Threats – external – competing firms with similar
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