Holly and Gary are HR Professionals in their organization and they are working to develop the strategic plan for their organization. Holly and Gary are using SWOT analysis to help understand the needs of human, financial, technological, capital, and other aspects of their organization. What is SWOT?
- SWOT is an analysis to define the strengths, weaknesses, openness, and timeliness of an organization.
- SWOT is an analysis to define the schedule, weaknesses, opportunities, and timetable of a project endeavor.
- SWOT is an analysis to define the seriousness, weaknesses, openness, and timetable of organization development.
- SWOT is an analysis to define the strengths, weaknesses, opportunities, and threats an organization may face.
Answer(s): D
Explanation:
Answer option D is correct. SWOT is an analysis that can be used to determine the strengths, weaknesses, opportunities, and threats.SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieving that objective. A SWOT analysis may be incorporated into the strategic planning model. It is a part of business policy that helps an individual or a company to make decisions. It includes the strategies to build the strength of a company and use the opportunities to make the company successful. It also includes the strategies to overcome the weaknesses of and threats to the company. Answer option A is incorrect. This is not a valid definition of SWOT so this choice is incorrect. Answer option B is incorrect. This is not a valid definition of SWOT so this choice is incorrect. Answer option C is incorrect. This is not a valid definition of SWOT so this choice is incorrect. Chapter: Core Knowledge Requirements for HR Professionals Objective: Environmental Scanning Concepts
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