Scenario analysis and scenario planning draw on a variety of disciplines and interests because:
- The other ways of planning without disciplines and interests can create dissatisfaction within the users and in order to avoid such situations these have set of rules to follow
- The disciplines and interests in scenario planning like economic, demographics and politics can create more attachment towards the business scenarios and the business can also get linked with the human character considering these factors
Advantages and disadvantages of SWOT analysis:
Advantages:
- Better understanding of the business
- The weaker points are detected
- The strength is identified
- Any threats to come are identified or detected
- Achieving business strength and capacity
Disadvantages:
- Issues are not priority considered
- Does not allow to pick out the best option from a list of options
- Irrelevant and useless information is generated
Impact of the Internet and social media in American industry:
- It can increase the economic development of the industry
- The innovations can tend to increase in the industries
Impact of the manufacturing innovations (e.g., robotics) industry:
- The human intervention becomes less due to the development of robotics and this brings an impact of employment. The employment crisis got increased
- The innovations and the robotic systems have cut down the labor costs for industries
Impact of the global labor market (managerial talent) industry:
- This increased the globalization
- Economic growth also increased
