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"SWOT is an acronym used to describe those particular Strengths, Weaknesses, Opportunities, and Threats that are strategic factors for a specific company" (Wheelen & Hunger, 2004, p.109).
Before any recommendations or changes are made, a company should undergo an objective analysis as such as this to ensure that they will achieve the desired end-result. If a company implements changes without completing this major step, you can guess where you would like to end up ? but you can't really effectively be able to chart and follow a path. This whole process can be referred to as strategic planning...
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