BUISENESS MANAGEMENT
BUSINESS PLANNING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
It was developed at Harvard University
|
|
|
Strength is an external factor
|
|
|
Threat explains our weaknesses as an organization
|
|
|
S-O will generate maxi-maxi strategy
|
Detailed explanation-1: -Strengths-opportunities (SO): This TOWS strategy, also known as the maxi-maxi strategy, is a business plan that pursues opportunities through the sheer force of an organization’s strengths. It places less emphasis on a company’s weaknesses.
Detailed explanation-2: -The aim of a Maxi-Mini strategy is to maximize the strengths of a company while minimizing the threats through these strengths. A company with strong financial capabilities and cost-reducing skills, could lower its prices to drive out competition.
Detailed explanation-3: -SWOT analysis is a framework for identifying and analyzing an organization’s strengths, weaknesses, opportunities and threats. These words make up the SWOT acronym. The primary goal of SWOT analysis is to increase awareness of the factors that go into making a business decision or establishing a business strategy.
Detailed explanation-4: -The aim of a Maxi-Maxi Strategy is to utilize internal strengths to make optimum use of the external opportunities available to the company. In other words, the company has to utilize the strengths by using its resources to cash in on potential opportunities.