Managers:
We've learned many tools to assist us in making decisons regarding our product, strategic position, market share and use of resources. Which one of the tools do you think is the most effective and WHY?
[Tools learned: SWOT, Planning Process, PLC, BCG Matrix, Porters Model]
I think the SWOT is the most effective tool used to assist us in making decisions regarding product, strategic position, market share and use of resources. I believe SWOT is the most effective tool because it clearly states the major priorities the business needs to be successful. There is no extra 'fluff' to confuse the overall big picture.
ReplyDeleteIn my opinion, I believe SWOT is the most effective tool for a company/organization to make decisions regarding products, resources, marketshare and strategic position. This is because each section of SWOT (Strength, Weaknesses, Opportunities, Threats) can help an organization make the right decisions. What strengths does this company have? What weaknesses do they face? Are there any opportunities to expand their product? And what are some potential threats that, for example, a rival company can pose on your own business. These four observe some of the main components to make a business great.
ReplyDeleteThe most effective tool used to assist us in making decisions regarding product, strategic position, market share and use of resources is SWOT. I think it's the most effective tool because it helps the company indicates their own strength and use that as a strongpoint against other companies, weakness so we'll know what aspect our company have to improve in, opportunity will help us increase our brands and incomes, and lastly threats because by knowing our threats, we'll be more aware of what we're up against.
ReplyDeleteI believe the planning process is the most effective tool when making decisions regarding product, strategic position, market share and use of resources. I think this because it has actual steps that you can follow and is most efficient. When using the planning process you can figure out you objectives, determine where you stand, develop scenarios, select the best course and implement the plan. It helps you achieve your goals and understand what needs to be done in the most effective way.
ReplyDeleteI believe the SWOT analysis is the most effective tool used to make decisions regarding business. Businesses are able to point out the good and the bad of their company. They can look at where they stand as a company now and where they will be able to go through their opportunities. They can also look at things that will make them not be successful such as their competition. Being able to do a SWOT analysis and looking at all your internal and external factors of a business is an important and effective tool.
ReplyDeleteI think the Planning Process is the most effective tool used to assist us in making decisions regarding our product, strategic position, market share and use of resources. This is because planning is the key to success. If a company does not plan for the future of the business, the overall direction and vision of the business will be lost.
ReplyDeletei believe the SWOT analysis is the most effective tool for a business to use in order to make decisions. With SWOT,businesses can asses their business by looking at the Strengths, Weaknesses, Opportunities and Threats. By looking at each, the company is able to work on the good and bad of the company. Also with SWOT, the business can look at key factors to which the company will be successful or not, such factors include competition. It is important because it overlooks the internal and external factors that are included and makes it very effective to the business in order to grow and make profits.
ReplyDeleteI believe that SWOT is the most effective tool that a company can use to analyze where they stand and where they need to go. They can look at things that they need to improve on but also know the advantages they have over other companies and organizations. Using opportunities, it sets goals for them and things that they can reach for in the future to see where they need to/will go. They will look at their threats and find ways to overcome them. These 4 quadrants will help a company to answer the 3 big questions; where are we now? Where do we want to go? How will we get there?
ReplyDeleteI believe that the BCG is the most importen out of them all. i feel that it is the most importen because it shows where your product is and if it is losing money or if it is a good idea to contune. it also helps to show what products are losing money and what is making money this is the most importen part of a business because if your product isnt selling then you will go under no matter what else.
ReplyDeleteI believe the most effective tool to assist businesses in making decisions would be the Planning Process. This method provides a clear step by step process on how to implement a plan or objective. Using this process the business will be able to identify its objectives,strengths, weaknesses, contingencies, and best courses of action.Once a decision is made by a business, this process will be used to ensure that the decision made will be achieved and successful because it allows the business to look at all the aspects surrounding the decision.
ReplyDeleteI think that the most effective tool is SWOT because it outlines the business by showing its strengths and opportunities and also helps the business by showing their threats and weaknesses so that they can better the business, and also be prepared for those threats.
ReplyDeleteI think the most effective tool is using the SWOT analysis technique. This is because it touches on a little bit of everything laying things out from strengths, weaknesses, opportunities, and threats a company/organization can encounter. I also believe according to the SWOT analysis, a company can make the decision regarding their product, state what position they stand in (ex.financially), and evaluate where they stand in the market share. Therefore we can conclude that SWOT allows for further evaluations to take place for further depth on information regarding a company/organization.
ReplyDeleteI feel that SWOT analysis is the most effective tool we have learned. i feel this way because it helps you easily identify what your product/service currently has going for it, what your product/service could improve upon in the future, where your closest competitors stand in comparison to you, and what opportunities your product could eventually reach. The SWOT analysis easily helps you compare and contrast your closest competitors in an easy to follow chart, which helps you identify weaknesses in your product or service. you can then try to improve upon your weeknesses in order to stay on track with the competition, or even surpass their current standings.
ReplyDelete