What framework allows managers to combine internal strengths and weaknesses with external opportunities and threats?

The correct choice is SWOT Analysis because it systematically helps managers assess an organization's internal strengths and weaknesses alongside the external opportunities and threats. By examining these four dimensions, managers can develop strategies that leverage strengths to seize opportunities while addressing weaknesses and mitigating threats.

SWOT Analysis is particularly valuable in strategic management as it provides a clear overview of where a company stands in relation to its environment. It encourages self-reflection within the organization and promotes a proactive approach to strategy formulation. By identifying internal capabilities and external market conditions, organizations can craft informed strategies to improve competitiveness and market positioning.

Other frameworks like PESTLE Analysis focus on external factors influencing an organization but do not integrate internal factors. Porter's Five Forces analyzes competitive forces within an industry, highlighting external challenges without addressing an organization's internal capabilities. Value Chain Analysis breaks down the activities that create value in a company but does not provide a broad view of both internal and external factors in a strategic context. Therefore, SWOT Analysis stands out as the comprehensive tool that allows for the integration of both internal and external elements in strategy development.