The factsheet examines the four elements of a SWOT analysis and the process of conducting an analysis of this nature.
Disseminate and discuss the findings. While at first glance the SWOT looks like a simple model and easy to apply, experience shows that to do a SWOT analysis that is both effective and meaningful, requires time and a significant resource. Which areas might the organisation improve?
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Classify them by their severity and probability of occurrence. Identify the most important issues. The organisation may benefit by having contingency plans to address them if they should occur. What opportunities exist in the environment, which will propel the organisation?
Write a discussion document. DO get other people involved to gain multiple perspectives.
DO exploit any expertise and resources that are already available within the organisation. Using a SWOT analysis gives a structured approach to such deliberations, and can be very effective in getting contributions from a range of people.
This is particularly effective if the SWOT analysis is carried out as a group brainstorm activity. The factsheet also provides tips for conducting a SWOT analysis, such as getting other people involved to gain multiple perspectives and exploiting any expertise and resources already available within the organisation.
What is SWOT analysis? Decide which activities are a priority in the context of the organisations goals and values — a possible action plan framework appears below. This flexibility is one of the factors that has contributed to its success.
It involves stating the objective of the business or project and identifying the internal and external factors that are either supportive or unfavourable to achieving that objective.
It is important to note the strengths and weaknesses are intrinsic value-creating skills or assets, or the lack of these, relative to competitive forces.
Gather the information - it is useful to use a template as the basis for exploring the factors and recording the information. The factsheet concludes by looking at the particular scenarios when a SWOT analysis is most appropriate, as well as the advantages and disadvantages of a SWOT analysis.
SWOT is often used as part of a strategic or business planning process, but can be useful in understanding an organisation or situation and decision-making for all sorts of situations. It requires a team effort and cannot be done effectively by only one person.
Any organisation undertaking strategic planning will at some point assess its own strengths and weaknesses. PESTLE analysis is used to look at opportunities and threats external environment parts of the model.
It is essentially a summary of a set of previous analyses — even if those were just 15 minutes of mini-brainstorming with yourself in front of your computer although this approach is not recommended!
DO incorporate your analysis within an ongoing process for monitoring changes in the business environment. Log in to view more Log in to view more of this content.
Opportunities and threats are external factors which are not created by the organisation, but emerge as a result of the competitive dynamics caused by future gaps in the market. The technique is credited to Albert Humphrey who led a research project at Stanford University in the s and s using data from leading companies involved in long range planning processes.
Useful contacts and further reading A SWOT analysis is a planning tool which seeks to identify the strengths, weaknesses, opportunities and threats involved in a project or business. Identify appropriate sources of information.A SWOT analysis is a planning tool which seeks to identify the strengths, weaknesses, opportunities and threats involved in a project or business.
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