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The process of assessing current realities requires an organization's understanding of what its present capabilities are and what it can do to improve on them.
A SWOT analysis investigates the strengths, weaknesses, opportunities, and threats that the organization is prone to.
Forecasting helps the management to make decisions that will enable them to stay afloat in the future.
The VRIO analysis is another important management tool that can help the business by investigating the value, rareness, imitability, and organization of the business.
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