9. Make up 5 sentences following the model given below. Use the ideas from the text.

Example: having decided on its mission – прийнявши рішення щодо місії

10. Read the text again and answer the questions. Add 2-3 questions of your own. Use the answers to make up summary of the text.

1. What is one of the key tasks of the company’s top management?

2. What do the strategic decisions determine?

3. What is the foundation of any strategic planning?

4. What was the mission and purpose of Marks and Spencer?

5. What mission did Vail decide on?

6. What will an organisation have worked out after deciding on its mission and purpose?

7. What do the planners have to look at before deciding strategies?

____________________

Text B

Pre-reading tasks

1. Match the following words and combinations with their Ukrainian equivalents.

1) favourable	a) загроза;
2) to cause trouble	b) сприятливий;
3) impact on	с) скласти список;
4) threat	d) досяжний;
5) legislation	e) вплив на;
6) subsequent step	f) завдати шкоди;
7) to derive from	g) виключати, ліквідовувати;
8) attainable	h) походити;
9) to compile list	i) наступний крок;
10) to eliminate	j) законодавство;
11) growth rate	k) результати діяльності компанії;
12) company performance	l) темпи росту.

2. Fill in the box.

Verb	Noun	Adjective
to use
		favourable
-	weakness
-	capability
to compete
		governmental
		advisable
	conversion
to achieve
	threat

Swot analysis

SWOT analysis (alternately SLOT analysis) is a strategic planning method used to specify the objective of the business project, identify and evaluate factors that are favourable and unfavourable to achieve that objective. These factors involve:

Strengths: characteristics of the business, or project team that give it an advantage over others.

Weaknesses (or Limitations): are characteristics that place the team at a disadvantage relative to others.

Opportunities: chances to improve performance (e.g. make greater profits) in the environment.

Threats: external elements in the environment that could cause trouble for the business or project.

These four are classified as internal and external factors.

Internal factors are the strengths and weaknesses which are internal to the organization.

External factors are the opportunities and threats presented by the external environment to the organization.

The internal factors may be viewed as strengths or weaknesses depending upon their impact on the organization's objectives. What may represent strengths with respect to one objective may be weaknesses for another objective. These factors may include all of the 4P's; as well as personnel, finance, manufacturing capabilities, and so on. The external factors may include macroeconomic matters, technological change, legislation, and socio-cultural changes, as well as changes in the marketplace or competitive position.

Identification of SWOTs is essential because subsequent steps in the process of planning for achievement of the selected objective may be derived from the SWOTs.

First, the decision makers have to determine whether the objective is attainable. If the objective is NOT attainable a different objective must be selected and the process repeated.

One way of utilizing SWOT is matching and converting. Matching is used to find competitive advantages by matching the strengths to opportunities. Converting is to apply conversion strategies to convert weaknesses or threats into strengths or opportunities. An example of conversion strategy is to find new markets. If the threats or weaknesses cannot be converted a company should try to minimize or avoid them.

The usefulness of SWOT analysis is not limited to profit-seeking organizations. SWOT analysis may be used in any decision-making situation when a desired objective has been defined. Examples include: non-profit organizations, governmental units, and individuals. SWOT analysis may be used in pre-crisis planning and preventive crisis management, it may also be used in creating a recommendation during a viability.

SWOT analysis is just one method of categorization and has its own weaknesses. For example, it may tend to persuade companies to compile lists rather than think about what is actually important in achieving objectives. It also presents the resulting lists uncritically and without clear prioritization. It is therefore advisable to combine a SWOT analysis with portfolio analyses such as the GE/McKinsey matrix or COPE analysis.

It is prudent not to eliminate too quickly any candidate SWOT entry. The importance of individual SWOTs will be revealed by the value of the strategies it generates. A SWOT item that produces valuable strategies is important. A SWOT item that generates no strategies is not important.

Notes: candidate SWOT entry - кандидатура на SWOT аналіз.

It is prudent not to eliminate too quickly any candidate SWOT entry.

Розумною (/обережною/завбачливою,) тактикою було б не усувати  будь-яку кандидатуру на SWOT аналіз передчасно