Why is the internal organizational analysis important to strategic management planning?

When developing a strategic business plan, a company must analyze internal and external environments to be effective. A company can reduce the time needed to complete a strategic plan by conducting a SWOTT analysis. However, a strategic plan can be developed without a SWOTT but the analysis certainly helps outline the plan. In lieu of a SWOTT analysis, a company can employ other methods like the resource-based view or a value chain analysis.

An internal analysis helps resolve potential issues and answer current questions that will affect the companys current efficiency and define strengths and weaknesses within the firm. Although other internal methods exist, the SWOTT is used more widely...