What Is a SWOT Analysis and How Does It Relate

question 23

Essay

What is a SWOT analysis and how does it relate to the Strategic Management Process?

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Definitions:

Zero-sum Game

A situation in competitive theory where one party's gain is exactly balanced by the losses of others. In a zero-sum game, the total benefit to all players in the game, for every combination of strategies, always adds up to zero.

Non-zero-sum Game

A scenario in game theory where the sum of outcomes for all players does not equal zero, allowing for mutual benefit or loss.

Equity Game

A scenario or experiment in psychology and economics that studies people's concepts of fairness and distribution of resources.

Moral Dilemmas

Situations in which a person must choose between two or more actions, each of which is morally demanding or where the right course of action is not immediately clear.