QUESTION 3 (30 MARKS) The SWOT analysis is a widely utilized strategic management tool that assesses...

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QUESTION 3 (30 MARKS) "The SWOT analysis is a widely utilized strategic management tool that assesses an organization's internal strengths and weaknesses, along with external opportunities and threats. Explore the fundamental concepts and applications of SWOT analysis in strategic decision-making. Discuss how a well-conducted SWOT analysis can provide valuable insights into an organization's current position and future prospects. Examine the significance of leveraging strengths and addressing weaknesses, as well as capitalizing on opportunities and mitigating threats. Using real-world examples, evaluate the effectiveness of SWOT analysis in guiding strategic planning and decision-making processes. Consider the limitations and criticisms of SWOT analysis and propose strategies to enhance its relevance and application in a rapidly evolving business environment." QUESTION 3 (30 MARKS) "The SWOT analysis is a widely utilized strategic management tool that assesses an organization's internal strengths and weaknesses, along with external opportunities and threats. Explore the fundamental concepts and applications of SWOT analysis in strategic decision-making. Discuss how a well-conducted SWOT analysis can provide valuable insights into an organization's current position and future prospects. Examine the significance of leveraging strengths and addressing weaknesses, as well as capitalizing on opportunities and mitigating threats. Using real-world examples, evaluate the effectiveness of SWOT analysis in guiding strategic planning and decision-making processes. Consider the limitations and criticisms of SWOT analysis and propose strategies to enhance its relevance and application in a rapidly evolving business environment."