Respond to the following in a minimum of 275 words:
Discuss the differences between an internal analysis and an external analysis with respect to strategic planning. What do organizations typically analyze as part of an internal analysis, and why? What do organizations typically analyze as part of an external analysis, and why? How do the results of each of these analyses inform an organization’s strategic plan?
Please cite and reference a source that will allow for validation and credibility based on the 7th edition APA guidelines in order to avoid plagiarism.
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The internal activities of an organization define its strengths and weaknesses. Strengths permit a company to take advantage of prospects available in the business environment, while weaknesses indicate its possible threats and control approaches. Internal aspects are commonly known as controllable factors because an organization controls them; it can change or disrupt such factors. Internal analysis entails examining the organization’s resources and potentials (Prowle & Lucas, 2016). It implies the nature of innovation owned, patents and policies, financial and administrative resources. In strategic planning, internal analysis is crucial since it helps a firm locate avenues where…
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