Critical internal and external factors that affect firms strategic planning

• Published in: International Research Journal of Finance and Economics
• Main Author: Abd Ghani K.D.; Nayan S.; Mohd Ghazali S.A.I.S.; Shafie L.A.; Nayan S.
• Format: Article
• Language: English
• Published: 2010
• Online Access: https://www.scopus.com/inward/record.uri?eid=2-s2.0-77958138517&partnerID=40&md5=48cf0e890eac06acfcb229a337d413f2

Every firm that involves in business activity has its own strategy to operate its daily business. Strategic planning is the important element in every firm strategic management. There are various methods and techniques that can be employed in order to implement strategic planning and one of them is by using the SWOT analysis. SWOT analysis refers to strengths, weaknesses, opportunities and threats. Strengths and weaknesses are the internal factors of an organization and opportunities and threats are the external factors. This is a study on critical internal and external factors that affect the strategic planning of land developers in Malaysia. Questionnaires were distributed to get information needed. From the analysis done, it was found that firms' strengths are related to their financial resources and the weaknesses are related to the firms' management. On the other hand, the external factors which have become opportunities to the firms are support and encouragement from the government. Threats are the bureaucratic procedures that firms have to face in order to get plan approval and certificate of fitness (CF). © EuroJournals Publishing, Inc. 2010.