Strengths We are able to respond very quickly as we have no red tape, and no need for higher management approval.
Review of external environment including an industry analysis Opportunities Threats Focus your strategic plan on capitalizing on the strengths and opportunities; managing the weaknesses; and dealing with or minimizing as much as possible the threats.
I conduct a SWOT analysis in my business annually. From time to time, I have asked a valued client to spend half an hour with me identifying what he or she feel are the strengths and weaknesses of the business.
This can be invaluable information to your strategic planning process; if you have a strong client relationship consider working closely with them to do a thorough, and somewhat more independent, SWOT review.
You could also add action items beside each of the additional factors; strengths, threats and opportunities. These might be ways to capitalize or leverage on those strategic elements.
Most of the time, SWOTs do not include action items in that section of the strategic plan. I like to include them in the SWOT, and then carry them into the Action Plan, because it reinforces what element of the analysis necessitates the action.
I have shown action items in the weaknesses section of the following sample SWOT analysis. I have found that by doing it this way more attention and understanding is focused on accomplishing the action plan.
Internal This section looks at the strengths and weaknesses of the organization. The goal is to manage and control the weaknesses and take advantage of the strengths. Strengths Our brand and reputation in our markets is strong. We are recognized as being professional, reliable and quality-driven.
We have excellent employees who are well trained, customer oriented and efficient. We have a relatively flat organization from bottom to top: We work on a continuous improvement operating model. We capitalize on slow business periods by cross-training employees and taking employees out to meet customers which helps us to develop more capable employees and gives the organization more depth.
We have built a strong human resources program at our company; this helps us hire, train and retain the best people.
We pay attention to our costs and contain costs wherever possible but not at the expense of quality, safety or the environment.
We have begun to pursue a market and product diversification strategy; this enables us to leverage our capabilities and minimize our costs and our risks. Weaknesses We are not the low-cost or low-price supplier in the market.
We need to continuously improve our productivity and efficiency to reduce cost. We are committing to a Lean process that is enterprise-wide and that will help us improve our efficiencies.
We need to build stronger relationships with our Top 5 Customers. Make our service commitments and if we fail, admit our mistake, apologize, and learn how to improve and not repeat mistakes! Cost of re-investment is high. All capital expenditures must be planned and must have an acceptable payback 18 months.
We have recently focused on a diversification strategy which has a cost to implement. Focus on cost and resource synergies and ensure that all diversified products have a strong benefit to the organization as a whole.The SWOT analysis is a simple, albeit comprehensive strategy for identifying not only the weaknesses and threats of a plan but also the strengths and opportunities it .
What is SWOT Analysis? SWOT analysis is a structured process used by an organization in developing a strategic plan for goal and mission accomplishment.
SWOT analysis consists of examining an.
SWOT Analysis Definition. SWOT is a commonly used acronym that’s used in business. It stands for Strengths, Weaknesses, Opportunities and Threats.
The recent post SWOT Analysis: A Powerful and Underutilized Tool was very popular and generated some terrific comments. This post is a follow-up with a list of. Feb 04, · When you are planning strategically with any company--online or offline--it is useful to complete an analysis that takes into account not only your own business, but your competitor's businesses and the current business environment as well.
If you want to have a good comprehensive break down on how things are running you should take a gap analysis.