Each year, Honeywell asks every department manager to rate his or her department's strengths and weaknesses as well as those of the other departments with which the department interacts. Then each department manager is asked what he or she sees as the greatest threats and opportunities for the company. Honeywell is asking its department managers to engage in a ________.

Question

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Honeywell is asking its department managers to engage in a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis to assess the internal and external factors affecting the company's performance. The managers are evaluating their department's strengths and weaknesses and also identifying potential opportunities and threats for the company. A portfolio analysis focuses on the company's product or service mix, while a market analysis examines the market trends and consumer behavior. Functional planning sessions and compatibility assessments are also specific types of business planning activities.

Each Year, Honeywell Asks Every Department Manager to Rate His