This table showed an example of a SWOT analysis for Google Inc. External analysis and internal analysis combined constitute what has come to be called SWOT (strengths, weaknesses, opportunities, threats) analysis). It is HRM's role to keep close tabs on the external environment for human resource-related opportunities and threats, especially those directly related to the HRM function: potential labor shortages, competitor wage rates, and government regulations affecting employment. It is important that all people-related business issues identified in the HRM function be considered during strategy formulation. An analysis of a company's internal strengths and weaknesses also requires input from the HRM function. A company's failure to consider the strengths and weaknesses of its workforce may result in choosing strategies it is not capable of pursuing. This SWOT analysis should be conducted during: Question 18Answer a. None of these b. Strategy implementation c. The integrative linkage d. Strategy formulation e. Strategy evaluation