Swot 2012-how-to-1325446041-phpapp01-120101140249-phpapp01
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This document provides guidance on how to conduct a SWOT analysis. It defines each element of a SWOT analysis: strengths as internal resources or capabilities that provide an advantage; weaknesses as internal limitations; opportunities as external forces that could provide an advantage if exploited; and threats as external forces that could inhibit advantages. It recommends being realistic and specific in identifying each element, comparing to competitors, and keeping the analysis short. The guidance outlines a three step process: 1) list strengths, weaknesses, opportunities, and threats; 2) clarify the ideas through discussion; 3) create an action plan to address each area.
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Swot 2012-how-to-1325446041-phpapp01-120101140249-phpapp01
- 1. How to conduct a SWOT analysis
- 2. What's a SWOT? A SWOT analysis is a structured group activity that's useful in identifying the internal and external forces that drive your competitive position . SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats. For purposes of this exercise, we define each as follows.
- 3. Strengths - Identify any existing or potential resource or capability within yourself or company that provides a competitive advantage. , you might define your capabilities as having For example: Strong customers service ability, sales skill, your personal contacts, people skills, technical experience, work habits, production experience, Estimating skills ,etc. The thing to notice from the definitions above is Strengths and Weaknesses are inward-looking You generate ideas and gather feedback within the context of yourself or company.
- 4. Opportunities - are existing or potential forces in the external environment that, if properly exploited, could provide a competitive advantage. For example: high customer satisfaction ratings, raving fans, untapped knowledge offered from paint jobber relationships, untapped use of new technologies, untapped skill from technicians and so on. Threats - Pertain to any existing or potential force in the external environment that could inhibit the maintenance or attainment of a competitive advantage. For examples a loss of key DRP partner ,new or revived competitor, loss of a key fleet customer(s), loss of a key jobber relationship, lack of new experience technician to the industry, etc.
- 5. Be realistic about the strengths and weaknesses of your organization when conducting SWOT analysis. SWOT analysis should distinguish between where your organization is today, and where it could be in the future. SWOT should always be specific. Avoid grey areas. Always apply SWOT in relation to your competition i.e. better than or worse than your competition. Keep your SWOT short and simple. Avoid complexity and over analysis SWOT is subjective.
- 6. Strengths Weakness Good Work Habits Lack of training opportunities Step#1 work sheet list
- 7. Opportunities Threats Group Associations, 20 Group, Unaware of potential competition Peer Groups Step#1 work sheet list
- 8. Clarify ideas. Review each idea within each of the domains; ask clarifying questions while discussing the underlying drivers of each idea. It will help to ask members who presented an idea to help clarify and explain to the rest of the team what they meant about the idea. Remember, the goal in this step is to clarify. Avoid debating the importance of any particular idea. Step#2
- 9. Plan of action Review your SWOT matrix with a view to creating an action plan to address each of the four areas. Step#3
- 10. Randy S Ferrese Sr. 824 Blue Bird circle Mays Landing, NJ 08330 609 576 4244 Randy@bodyshopinabox.net In summary: Strengths need to be maintained, built upon or leveraged. Weaknesses need to be remedied, changed or stopped. Opportunities need to be prioritized, captured, built on and optimized. Threats need to be countered or minimized and managed.