When assessing business strengths, which tool might be utilized?

In the context of assessing business strengths, planning grids serve as a strategic tool that helps organizations visualize their capabilities and resources in a structured way. Planning grids can be employed to prioritize various strengths against identified opportunities or competitive challenges. They often lay out different strategic options alongside key criteria that can help in decision-making and resource allocation.

This method aids organizations in systematically evaluating and comparing their strengths with market conditions, enabling them to capitalize on their inherent advantages. It allows for a clearer understanding of where the business excels and where improvements can be made.

While other options like PEST analysis focus on external factors affecting the business environment, market mapping visualizes market positions, and customer personas help understand target audiences, planning grids specifically facilitate internal assessments related to a company's strengths in a manner conducive for strategic planning and operational effectiveness.