Question

Develop a SWOT Matrix for yourself. Why is “matching” internal and external factors such an important strategic management activity? Develop a QSPM for yourself, given two strategies: 1. go to post-graduate school (DBA, PhD), or, 2. begin working full-time. What are your results?

Answer 1

SWOT matrix helps to evaluate both internal and external strategies. It addresses both the efficiencies and incapability. Thus, matching of external and internal factors helps to evaluate the internal strengths and weaknesses along with external opportunities and threats.

Internal factors

My strengths are as follows:

·       I am efficient enough in both kind of communication technique; verbal communication and nonverbal communication

·       I prefer to work as a team.

·       I have a good networking skill

My weaknesses are mentioned below:

·       I do not have sufficient technical skill

·       Often, I get easily distracted

·       I do not have sufficient professional experience

External factors

My external opportunities are as follows:

·       I am a quick learner. Thus, I can learn new things very quickly

·       I have the efficiency to groom me quicky to be efficient in the field

My external threats are mentioned below:

·       I may not compete properly with the people having the proper technical skill

·       I may not lead a large team due to lack of experience

Both the internal and external factors properly qualify with each other. Thus, matching of both these factors can be beneficial for future strategic management activities.

QSPM helps to select and develop a proper strategy for both individual and organizational development. Based on the SWOT matrix, a suitable strategy should be – begin working as full time.

My QSPM strategy follows the below mentioned criteria

·       I will develop communication quick with the people in the organization to create a team environment

·       I will build up small teams in the organization and will work as a to achieve every single organizational goals

·       I will groom me to adopt an organizational environment and lead the teams properly for a positive output