Principles of Management Discussion Replies

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Do not simply revisit what was discussed in the thread, but add information from the unique article you researched on the concept and compare the findings. Did the findings of the article you found and the articles used in the original thread agree, disagree, address different aspects of the concept? Only the substantive part of the response will be counted toward the word count.

Here is the first post:

A SWOT analysis is a strategic planning tool that helps organizations determine their strengths (S), weaknesses (W), opportunities (O), and threats (T) (Bateman, Snell, & Konopaske, 2020).

Important-Performance Analysis based SWOT Analysis is written by Boonyarat Phadermrod, Richard M. Crowder, and Gary B. Wills. Phardermrod, Crowder, and Wills teach at the University of Southampton in the United Kingdom. The purpose of the article is to introduce the Importance-Performance Analysis (IPA) to identify SWOT based on customer satisfaction surveys which produces prioritized SWOT corresponding to the customers perception (Phadermrod, Crowder, & Wills, 2019).

The SWOT analysis has been in use since the 1960s (Phadermrod, Crowder, & Wills, 2019). It is a strategic planning tool to help organizations get a better understanding of their organizations internal and external environment. As the authors note, though, the SWOT analysis cannot offer an efficient result and sometimes may lead to a wrong business decision (Phadermrod, Crowder, & Wills, 2019). The reason for incorrect decisions is that the traditional SWOT analysis is performed by internal stakeholders who may exhibit subjective views upon the environment. In other words, there is a bias that is likely to emerge in a traditional SWOT analysis that does not correspond with reality.

The solution to the traditional SWOT analysis is to incorporate the Importance-Performance Analysis (IPA) into the SWOT analysis process. The IPA is a technique for analyzing customer satisfaction towards an organizations prodct or service (Phadermrod, Crowder, & Wills, 2019). IPA has been used to help organizations understand what customers need and desire in order to develop marketing strategies.

Incorporate an IPA into the SWOT analysis involves 4 steps. First, understake a customer satisfaction survey (Phadermrod, Crowder, & Wills, 2019). Second, conduct an IPA on the customer survey (2019). Third, identify strengths and weaknesses through the IPA matrix (2019). Fourth, identify opportunities and threats through the IPA matrix (2019). This process will help organizations gain an outside perspective on what is traditionally an internally-driven SWOT analysis.

Important-Performance Analysis based SWOT Analysis ties into the topic of SWOT analysis by helping organizations understand the inherent flaw within a SWOT analysis, namely, the potential for error from insular thinking. Many organization routinely employ a SWOT analysis to help them make important decisions. The SWOT analysis is easily understood and can be quickly deployed in a meeting. Hollingsworth and Reynolds state, Advantages to completing and utilizing SWOT analysis include, but are not limited to, providing awareness of potential and critical problems affecting an organization, focusing on both the positive and negative facets of the internal (intrinsic) and external (extrinsic) organizational environment, aiding in the recognition of opportunities for the organization, and its simplistic use (Hollingsworth & Reynolds, 2020). The SWOT analysis has been a part of organizational planning since the 60s (Phadermrod, Crowder, & Wills, 2019). Therefore, it is a tool that has had an opportunity to be critiqued.

An important point for readers to take away is the need for skepticism for any strategic plan that does not get outside input. The traditional SWOT analysis is conducted by members within an organization. As a result, there is a lot of qualitative analysis upon the organization, which may lead to a skewed perspective upon reality. Furthermore, depending on the culture within an organization, issues may not be brought up in a SWOT analysis out of fear of disrupting the status quo. Though able to be quickly deployed, the SWOT analysis should be viewed for what it really is, namely, an internal assessment of an oranization.

Another noteworthy point is the incorporation of an outside perspective for strategic planning. Padermrod, Crowder, and Wills incorporate the IPA matrix. Certainly, the IPA matrix is a helpful tool for organizations to consider deplying, but it is not the only outside perspective. There are also consultants who are able to help along with other strategic planning processes. These external perspectives can help reveals issues that an organization may not have been aware of had they not sought these perspectives. An organization is able to gain a better perception upon reality by comparing internal assessments to external ones.

An important final point to take away is that the SWOT analysis is still a good tool to utilize. The very fact that organizations are still employing the SWOT analysis 60 years after it was first introduced shows how beneficial it has been. Yes, the SWOT analysis is not a perfect tool, and yes, there is the possibility an organization may miss what is really going on by excluding outside persepctives. Overall, though, the SWOT analysis is a great tool that can be quickly deployed in a large organization among divisions, departments, and teams to diagnose quickly what is needed to get back on track.

Proverbs 14:15 states, The simple believes everything, but the prudent gives thought to his steps (English Standard Version, 2016). Important-Performance Analysis based SWOT Analysis is about organizations giving thought to their steps to make sure they are heading in the right direction. The authors help organizations understand the importance of integrating outside perspective upon their strategic planning utilizing the SWOT method.

Christians are able to implement the SWOT method confidently because it helps determine the best path for their organization. They are able to consider wisely their steps and the best course of action they should take. God certainly wants us to trust Him and His sovereignty, but that does not negate wise planning on a Christians part.

Here is the second post:

Competitive intelligence is the information necessary to decide how to best manage in the competitive environment (Bateman, 2019).
Competitive intelligence leads to success. In a study, Competitive intelligence failures: An Information Behaviour Lens to Key Intelligence and Information Needs, written by Tumelo Maungwa and Ina Fourie, they examine that by not understanding competitive intelligence or how having the right tools for achievement, can lead to failure. As will be shown, many of the causes for problems with key intelligence and information needs also relate to communication, information processing and cognitive problems, and problems with the identification of key intelligence needs also impact on other phases such as data analysis and dissemination (Maungwa & Fourie, 2018). Through interviews and questionnaires, professionals familiar with competitive intelligence were asked a series of questions both about their professional stature as well as their understanding of competitive intelligence and where they saw a need for improvement in their environment. The findings suggested that it is easier to plan out strategies as well as understand the strategies that are being put out, which was the biggest issue with most of the professionals that were interviewed. Competitive intelligence suggests intuitive and creative thinking that takes planning several months ahead of schedule and organizing with the rest of the company to prevent holes or misunderstandings that can happen along the way. The competitive intelligence professional should have a very good understanding of the organization, the structure of the organization and have a very good relationship with the senior management (Maungwa & Fourie, 2018). When planning starts with the head of the company and is consistent throughout the entire company in all aspects of business, it is more likely to be successful in competitive intelligence. Competitive intelligence plays a huge role in the success of a company, when it is not organized, a company is likely to not gain momentum.
Discussion: Similarly, in a separate study The Role of Frontline Employees Competitive Intelligence and Intraorganizational Social Capital in Driving Customer Outcomes, written by Ashish Karla, Raj Agnihotri, Elten Briggs, authors take a comprehensive look through how competitive intelligence effects frontline workers, and in turn, customers. Results showed that through an understanding of competitive intelligence by employees, the needs that customers are presenting are going to be responded to at a quicker rate by management, maintaining client satisfaction and competitive edge. The speed and aggressiveness of competition have forced FLEs to learn and retain critical information so they can quickly respond to issues raised by customers (e.g., service warranties, delivery speed, billing practices) (Kalra, Agnihotri, & Briggs, 2021). By bridging the idea that competitive intelligence starts and ends with management and transfers down through frontline workers, it will be easier for a company to retrieve immediate feedback from customers and make changes based on these needs. This means more loyalty from customers and a faster rate for management to increase turnover, therefore presenting success. As argued before, competitive intelligence is a source of competitive advantage for any organization, as it helps to increase employee performance (Kalra, Agnihotri, & Briggs, 2021).

The main point behind this study coincides with our learnings from the earlier study that competitive intelligence needs to be seen throughout an entire company without any gaps. It seems that competitive intelligence is a major concept that businesses need to grasp completely in order to propel their business ahead of other competitors. Without this complete understanding or missing a particular aspect, such as bringing competitive intelligence through staff and customers, a company is likely to fail. From a competitive intelligence point of view, key intelligence needs relate to the needs or requirements of an organization to succeed according to the organizations vision, mission and strategic objectives (Maungwa & Fourie, 2018). It is important for a business to have key team members in charge of competitive intelligence to ensure that everyone in the company understands their responsibilities and expectations for their main mission of success. When all staff and higher-ups feel like they are a part of a bigger vision and feel involved they are in turn, going to put their best work forward and work towards the same vision. When a business is disorganized from the top down and customer service is not a priority, a companys mission may be end result to its fall. This all leads to competitive intelligence and a leg up over competitors.

Being intuitive in both business life and personal life is essential in living a content, God given life. That the God of our Lord Jesus Christ, the Father of glory, may give you a spirit of wisdom and of revelation in the knowledge of him (Ephesians, 1:17). When we try to understand and use our own knowledge without the consent from God, we may start down a path that was not intended for us. God wants his children to turn to him in all situations, including those that have to do with our professional life. If we turn to God before we look into ourselves, we may discover the competitive intelligence that God wants us to find.