23. swotanalysis 140330055612-phpapp02
TRANSCRIPT
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Every goal or objective needs a solid foundation(plan).
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Trying to make your work right?
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How do we develop a workable strategy?
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How do we make all the pieces fit?
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SWOT Analysis
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Introduction• SWOT Analysis is a
strategic planning tool used to evaluate the:– Strengths, –Weaknesses, –Opportunities, –Threats
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History of SWOT Analysis
• Developed at Stanford• Funded by Fortune 500
companies• Took 9 years to develop• Involved 5000
interviews
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Internals
Externals
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Strengths
What you do very well – maybe better than anyone else
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WeaknessesWhat you lack in or what you don’t do very well
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OpportunitiesWhat is it that you could do – but aren’t?
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ThreatsElements in the environment that could cause trouble for the you to achieve objective or goal.
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Creative Use of SWOTs
• How can we Use each Strength? • How can we Stop each Weakness? • How can we use each Opportunity? • How can we Defend against each Threat?
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Strengths Weaknesses
Opportunities S-O Strategies W-O Strategies
Threats S-T Strategies W-T Strategies
SWOT MatrixAlso known as TOWS Matrix
Current conditions
The Plan for the future
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Matching strengths to opportunities
Otherwise known as:S-O or Maxi-Maxi strategy
Using a strength to maximise an opportunity
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Matching weaknesses to opportunities
Otherwise known as:W-O or Mini-Maxi strategy
Improving capability to maximise an opportunity
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Matching strengths to threats
Otherwise known as:S-T or Maxi-Mini strategy
Minimising a threat with a strength
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Matching weaknesses to threats
Otherwise known as:W-T or Mini-Mini strategy
Minimising weaknesses and threats at same time
(often last choice)
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Strategies that can come from SWOT Analysis…
S-O W-OS-T W-T
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How to conduct SWOT Analysis?
3. Prepare Action Plan
Things that MUST be addressed immediately
Once the SWOT analysis has been completed, mark each point with:
Things that can be handled now
Things that should be researched further
Things that should be planned for the future
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Pitfalls of SWOT Analysis
Can be very subjective. Two people rarely come up with the same final version of a SWOT. Use it as a guide and not as a prescription.
May cause organizations to view circumstances as very simple due to which certain key strategic contact may be overlooked.
Categorizing aspects as strengths, weaknesses, opportunities & threats might be very subjective as there is great degree of uncertainty in market.
To be effective, SWOT needs to be conducted regularly. The pace of change makes it difficult to anticipate developments.
The data used in the analysis may be based on assumptions that subsequently prove to be unfounded [good and bad].
It lacks detailed structure, so key elements may get missed.
.
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Tips & Exercise
Do’s Be analytical and specific.
Record all thoughts and ideas.
Be selective in the final evaluation.
Choose the right people for the
exercise.
Choose a suitable SWOT leader or
facilitator.
Think out of the box
Be open to change
Don’ts
х Try to disguise weaknesses.
х Merely list errors and mistakes.
х Lose sight of external influences and
trends.
х Allow the SWOT to become a blame-
laying
exercise.
х Ignore the outcomes at later stages of
the
planning process.
TIPS
.