A formal review of a business organization's strengths, weaknesses, opportuniites, and threats that ultimately contributes to a comprehensive strategic plan is called a
A) customer relationship management.
B) SWOT analysis.
C) strategic plan.
D) none of the above.

Question

Quizplus · Accepted Answer

A SWOT analysis is a formal review of a business organization's strengths, weaknesses, opportunities, and threats. It is an important step in developing a comprehensive strategic plan as it identifies internal and external factors that can impact a company's success. Customer relationship management is a business strategy focused on building and maintaining long-term relationships with customers. A strategic plan is a document that outlines an organization's goals and objectives, and the actions needed to achieve them. None of the above is not a correct answer as the question asks for a specific term.

A Formal Review of a Business Organization's Strengths, Weaknesses, Opportuniites