The Strategic Management Process (cont.) 5.Identifying Strengths and Weaknesses strengdbs-activities the organization does well or any unique resource weaknesses-activities the organization does not do well or resources it needs but does not possess organization's culture has its strengths and weaknesses strong culture-new employees easily identify the organization's core competencies may serve as a barrier to accepting change - influence managers'preferences for certain strategies -SWOT analiysis-analysis of the organization's strengths, weaknesses,opportunities,and threats ©Prentice Hall,.2002 8-10 The Strategic Management Process (cont.) 5. Identifying Strengths and Weaknesses – strengths - activities the organization does well or any unique resource – weaknesses - activities the organization does not do well or resources it needs but does not possess – organization’s culture has its strengths and weaknesses • strong culture - new employees easily identify the organization’s core competencies –may serve as a barrier to accepting change • influence managers’ preferences for certain strategies – SWOT analysis - analysis of the organization’s strengths, weaknesses, opportunities, and threats © Prentice Hall, 2002 8-10