In browsing through our online resource, Encyclopedia of Management, I came across the intriguing acronym SWOT. Law enforcers with battering rams immediately came to mind. Here's what SWOT stands for in the business world. S = Strengths!
W = you guessed it - Weaknesses!
O = Opportunities!
T = Threats!!! Katie bar the door!This organizational strategy is from the early 1970's and continues to be used today. Even though you don't hear much about it. Then again I don't hear much about Zero-based Budgeting, Management by Objectives or Quality Circles. I was in a few quality circles. Drums would have added some much-needed zazz to those babies.
Source: Encyclopedia of Management as accessed through Gale Virtual Reference Library
A Des Moines Public Library card and PIN is required for access.
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