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Strategic management

shilpi (student) (780 Points)

21 February 2018

Is there any difference between Situational analysis and SWOT analysis?

Situational analysis takes into account macro as well as micro environment elements.

Am I right?

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Prashant Rajput (An insatiable Learner) (889 Points)
Replied 21 February 2018

SWOT Analysis is also known as Situational analysis.

Situational analysis is the process of finding a Strategic fit between external opportunities and internal strengths while working around external threats and internal weakness.

I hope you find similarity with SWOT analysis definition too

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shilpi (student) (780 Points)
Replied 28 February 2018

The scope of strategic analysis is larger than situational analysis.Right?

Prashant Rajput (An insatiable Learner) (889 Points)
Replied 28 February 2018

I have studied Strategic Management in detail.There are innumerable printing mistakes, paragraphs unorganized in our study text.Still,you have to write the same in exam if you want to clear the exams.

Let me give basic concept of Strategic Management.Note it down somewhere it will clear all your misunderstanding not doubts.Yes not doubts as for doubts you have got to have understanding first which our institute material deny.

BASIC MODEL OF STRATEGIC MANAGEMENT

Strategic Management consists of four basic elements:

1) Environmental scanning ( also called Environmental monitoring/Environmental appraisal not Environmental analysis)

Note: Environmental analysis is a subset of External analysis under Strategic analysis

Other names of Environmental scanning ate Strategic Analysis/Strategic Position/Establishing the hierarchy of Strategic intent

2) Strategy formulation (also called Strategic Planning)

Note: Corporate Planning can be divided into two parts-

a)Deciding corporate objectives and then determining corporate strategies.
b) Strategic Planning can be considered as the second part of Corporate Planning

3) Strategy Implementation ( sometimes referred to as Operational planning)

4) Evaluation and control ( also called Strategy Evaluation)

Coming to your question,SWOT analysis is the combination of External analysis and internal analysis.So we can say that Strategic Analysis is same as SWOT analysis (also called Corporate appraisal)

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shilpi (student) (780 Points)
Replied 28 February 2018

Agreed ,there are many mistakes and unorganized paragraphs in our module .Can i refer new study material for the relevant topic?

Prashant Rajput (An insatiable Learner) (889 Points)
Replied 06 March 2018

I have the Strategic Management book under new syllabus.Yes the chapters have been organised but the content under the topics is still riddled with typing errors and disorganized paragraphs.I have planned to come up with YouTube videos relating to how to study from Study Material in a systematic and correct way.Not quite soon though.

No,I won't recommend you to refer New Study Material as you are used to sequence of topics of current Study Material.You will have a hard time in matching the topics which you've studied with the new study material.So concentrate on the Old scheme syllabus.Good luck.

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