Matrixes Essay Example | Topics and Well Written Essays - 500 words

Matrixes - Essay Example SWOT stands for strengths, weaknesses, opportunities, and threats. SWOT analysis is a tool used for auditing the organization and its environment (Marketingteacher.com, 2011.) It is a very popular and useful tool for developing strategic management decision because it is simple and easy to use. In SWOT, strengths and weaknesses are considered as internal factors while opportunities and threats are external. This also gives the reason why SWOT analysis is sometimes called the Internal-External analysis (Mindtools.com, 2011). This is done with the help of the SWOT matrix where in the strengths, weaknesses, opportunities and threats for the organization are considered. By looking at the strengths of the organization, the possible areas for comparison with the competitors maybe discovered and this will also present the weaknesses that the organization possesses. Useful opportunities may come from looking at the strengths and trying to eliminate the weaknesses of the organization. Threats are the external factors that serve as obstacles that organization may face. SWOT analysis may help the organization in its strategic management decisions as it uncover opportunities where it is well placed to exploit and by understanding the weaknesses, threats can be managed and eliminated.

Team mission statement Essay Example | Topics and Well Written Essays - 500 words

Team mission statement - Essay Example The author concludes by saying that â€Å"the mission statement affirms the company’s commitment to responsible action.† Site Relevance. This site provides the knowledge essential in making a good mission statement. In order to formulate one, each of the members of the group what exactly is a mission statement and why it needs to be established. Understanding what comprises a good mission statement is a prerequisite in having one. This site has given me an adequate knowledge on how companies come up with their mission statements which can also be applied in our virtual team. Site Summary. In her article entitled Virtual Teams Need Human Touch, Jane Hawkrigg identifies the challenges commonly faced by virtual teams together with the specific strategies which should be employed in order to maximize the productivity of virtual teams. The author stresses that virtual teams harnesses the diverse talents and potentials of each member which are geographically separated. The following are the identified best practices for virtual teaming as identified by a global research group: virtual teams need special leadership; trust is essential; team building pays off; don’t abandon face to face meetings; performance in consistency; and the use of technology to maximize performance. Site Relevance. This site has been primarily important in giving me an understanding of how to maximize the potentials of our team-members. In order to create a mission statement, these guidelines are important because they are the factors which should be considered for the virtual team to succeed. It should be noted that as a virtual team is different from a typical one, special considerations should be prioritized. Since the mission statement defines the team and its goals, these identified best practices should be emphasized on the