What is the term for a formal study conducted by an organization to ascertain its current status and capabilities and its future expectations?

Question

Quizplus · Accepted Answer

A situation analysis is a comprehensive and formal study of an organization to evaluate its internal and external environment, strengths, weaknesses, opportunities, and threats (SWOT analysis) to establish its current status and capabilities and future expectations. It is conducted to understand where the organization stands in its industry or market and potential opportunities and challenges it might face in the future. A marketing audit, trend analysis, and competitive advantage audit are specific types of situation analysis.

What Is the Term for a Formal Study Conducted by an Organization