Every organization has the responsibility of being a name that does not only cater towards building its reputation and brand name in the market, but also be an entity that works towards building its people, the community, and the planet. To do so, it needs to be aware and informed about what is happening outside and inside the organization. This works as a strategy towards developing methods that are beneficial for the company’s growth and its stakeholders' growth. To aid the process, the internal and external assessment needs to be done and analyzed in a manner that would help the organization identify and understand its key strengths and opportunities, and known which weaknesses can be improved, and what are the potential threats it needs to be prepared for. It helps the organization remain strategically prepared and helps in proper and potential allocation of all the resources. The internal assessment takes into account to decoding the strengths and weaknesses of the organization, within its domain, which focuses on its operations. The external assessment involves studying all the different economic, social, technological, and political factors at play in the society, the nation, and internationally, at large, which influences the functions of the organization. It helps discover the potential opportunities and the threats, and develop strategies to tackle them with the best abilities. While the internal assessment includes scanning the internal environment, and the external assessment includes scanning the external environment, both focus on every factor that influences the organization’s well-being and functioning in the industry in revolves around.