Reference no: EM132355438

Formulate Individual Strategies

Purpose:

Individuals and organizations are alike in many ways. Each has competitors, and each should plan for the future. Every individual and organization faces some external opportunities and threats and has some internal strengths and weaknesses. Both individuals and organizations establish objectives and allocate resources. These and other similarities make it possible for individuals to use many strategic-management concepts and tools. This exercise is designed to demonstrate how the SWOT Matrix can be used by individuals to plan their futures. As one nears completion of a college degree and begins interviews for jobs, planning can be particularly important.

Instructions:

Construct a SWOT Matrix. Include what your consider to be your major external opportunities, your major external threats, your major strengths, and your major weaknesses. An internal weakness may be a low grade point average. An internal opportunity may be that your university offers a graduate program that interests you. Match key internal and internal factors by recording in the appropriate cell of matrix alternative strategies or actions that would allow you to capitalize on your strengths, overcome your weaknesses, take advantage of your external opportunities, and minimize the impact of external threats. Be sure to use the appropriate matching notation in the strategy cells of the matrix. Because every individual (and organization) is unique, there is no right answer to this exercise.