Another thought is that organizations must also monitor trends. As we are discussing, a big piece of strategy development is analyzing internal Strengths and Weaknesses. It also involves understanding external Opportunities and Threats. Of course, the acronym SWOT describes this process. Occasionally, businesses can be surprised by a new technology or trend. Yet, trends can be identified early if the organization is properly scanning, This is why it is smart to consider "SWOT-T" which includes Trends.
Class- do you have thoughts or personal experience in your careers with SWOT-T analysis?