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Beyond SWOT: A New Approach to Strategic Planning, By Jonathan H. Westover PhD
Manage episode 435228322 series 3593224
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Abstract: This article argues that the traditional SWOT analysis framework that has long been used by organizations for strategic planning is no longer sufficient in today's dynamic business environment. While SWOT provided value in the past by examining internal strengths, weaknesses, opportunities, and threats, numerous studies have shown it has important limitations. A key critique is that SWOT focuses too narrowly on internal factors rather than understanding changing external forces. It also lacks structure to prioritize issues and typically does not translate cleanly into actionable strategies. Given these limitations, the article proposes that organizations should supplement or replace SWOT analysis with the PESTLE framework. PESTLE systematically analyzes the political, economic, social, technological, legal and environmental macro-level factors impacting industries. It facilitates ongoing scanning of trends rather than a static snapshot. The article demonstrates how PESTLE analysis provides richer strategic context through examples in the tourism and healthcare industries. Making this transition allows organizations to develop more robust, resilient strategies aligned with dynamic macro environmental conditions.
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