Strategic Planning and SWOTDuring the semester in Principles of Management, the class learned many different ways to run and manage a business, as well as how to run a business. Among all the different ways, strategic planning and SWOT analysis seemed to be more interesting than other subjects and learning more about them could help some to run a business more professionally. The SWOT analysis is an easy way to see what is on the table and can help build a business using the information found and strengthen weaknesses, exploit opportunities and address any threats a company may have. () Strategic planning is the application of the basic planning process at the highest level of planning. () This form of planning has a few different stages that it goes through to ensure that it is the best possible way to carry out the plan. SWOT analysis and strategic planning are used every day in the corporate workforce and are great tools for success. Strategic planning is carried out by the highest levels of an organization which takes place in three main phases. These phases include the formulation phase, the implementation phase and the evaluation phase. () All of these play an important role in creating the best possible way to perform an action. The formulation phase occurs when a plan is initially developed and thought of as a way to help a business. The implementation phase occurs when the planned plan is implemented. The evaluation phase examines the success or failure of the plan, what could have changed, and what should have been done in the first place to make the plan work. In order to make a plan, there must be a reason. This is known as the center of paper and planning, these things become easier to accomplish and more possible to accomplish. If the planning, formulation, implementation and evaluation phases are done correctly, they can help ensure the success of a company. Additionally, asking other company officials can help get different opinions and answers about what would be best for a company's future. A SWOT analysis can also be a great way to learn about everything a company has to offer. Knowing strengths, weaknesses, opportunities, and threats can help evaluate a company and attract more customers, or it can help with much-needed improvements a company or organization has. Knowing the correct management methods is essential to successfully manage a business. The mistakes of the past should not be made again and again and the future is a great opportunity to make changes and improvements.