Enterprise in practice Essay Example | Topics and Well Written Essays - 1000 words

Enterprise in practice - Essay Example These models can be used in practice in order to assess the viability of an opportunity under specific market conditions. The first of these models, the SWOT analysis, provides a detailed view of the internal and the external environment of the organization. SWOT analysis focuses on the identification and the evaluation of the organization’s strengths, weaknesses, opportunities and threats (Earley et al. 2000). The two first elements of SWOT analysis, i.e. the strengths and weaknesses refer to the internal organizational environment; in opposition, opportunities and threats reflect the organization’s external environment (Adler et al. 2008). ... al conditions; moreover, secondary data describing the organization’s external environment would be also used (for instance, statistical data referring to the performance of the industry in which the organization operates or the trends of the particular industry regarding specific business decisions, e.g. mergers and acquisitions); it would be preferable that the information referring to the organization’s external environment is relevant to the opportunity the viability of which has been set under examination; for example, if the development of a strategic alliance between a specific organization and a well known organization of its industry is planned, then the performance of similar strategic decisions within the particular industry would be examined; an alternative method for generating ideas, along with the use of SWOT analysis, would be the focus groups, which would offer the following advantage: through the open discussion on a series of important issues, ideas c ould be developed in regard to the opportunity under evaluation; b) furthermore, the ideas generating through the above process – or processes, in case that both the processes suggested above are used – should be carefully preserved, in order to be further processed; the use of a notebook would be useful ensuring that the ideas generating will be not in risk – referring to the potential loss of ideas if they are stored in a database/ PC accessed by third persons, c) at the next level, the PEST analysis (Political, Economic, Social and Technological factors) would be used in order to identify additional risks in the organization’s external environment; PEST analysis refers to different elements of the organization’s external environment and for this reason it should be used along with SWOT