A key component of the strategic planning process is to assess the environment. Place the steps of the assessment process in order:

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Environmental analysis incorporates an internal analysis such as a review of the mission statement and value system, as well as an external analysis. The analysis needs to review four areas: strengths, weaknesses, opportunities, and threats. In this approach, strengths and weaknesses internal to the organization are identified. Once identified, these components are analyzed for the purpose of drafting a picture of the critical features of the organization, its achievements and failures, and its good points and bad points. Next, priorities must be established for the critical issues so that strategies are based on the priority issues. The strategies identified through the SWOT analysis can be shaped into a strategic plan on which strategic management is based. The more carefully the analysis is done, the more reliable the strategic plan.

A Key Component of the Strategic Planning Process Is to Assess