The Key of Strategic Thinking SWOT Analysis

Abstract

Strategic planning has become a vital necessity for modern organizations in order to operate effectively and ensure sustainable development in a competitive environment. However, without a systematic approach that takes into account all the necessary internal and external factors, planning a strategy may become problematic. SWOT analysis can help access an organization's current position and identify directions for development, as well as compare the internal and external factors that have a certain impact on the oraganization.

The purpose of this article is to understand what SWOT analysis is and why it is necessary, to examine it as an effective tool for strategic planning and management, to present its main components, specific features and stages of implementation, as well as to demonstrate the accessability of SWOT analysis in the library system through the example of the library Armenian State University of Economics.