Difference between revisions of "SWOT Analysis"

Difference between revisions of "SWOT Analysis"

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{{Term|SWOT ANALYSIS|A tool that identifies the Strengths, Weaknesses, Opportunities and Threats of an organization. Specifically, SWOT is a basic, straightforward model that assesses what an organization can and cannot do as well as its potential opportunities and threats. The SWOT analysis takes the information from an environmental analysis and separate it into internal (strengths and weaknesses) and external issues (opportunities and threats). Once this is completed, SWOT analysis determines what ca be of assistance to the organization in accomplishing its objectives, and what obstacles must be minimized to achieve desired results. <ref> [http://www.answers.com www.answers.com] (20 August 2008), [http://www.netmba.com www.netmba.com] (20 August 2008), [http://en.wikipedia.org en.wikipedia.org] (20 August 2008) </ref> }}
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{{Term|SWOT ANALYSIS|A tool that identifies the Strengths, Weaknesses, Opportunities and Threats of an organization. Specifically, SWOT is a basic, straightforward model that assesses what an organization can and cannot do as well as its potential opportunities and threats. The SWOT analysis takes the information from an environmental analysis and separate it into internal (strengths and weaknesses) and external issues (opportunities and threats). Once this is completed, SWOT analysis determines what can be of assistance to the organization in accomplishing its objectives, and what obstacles must be minimized to achieve desired results. <ref> [http://www.answers.com www.answers.com] (20 August 2008), [http://www.netmba.com www.netmba.com] (20 August 2008), [http://en.wikipedia.org en.wikipedia.org] (20 August 2008) </ref> }}
  
  

Revision as of 08:19, 13 October 2008

Term2.png SWOT ANALYSIS
A tool that identifies the Strengths, Weaknesses, Opportunities and Threats of an organization. Specifically, SWOT is a basic, straightforward model that assesses what an organization can and cannot do as well as its potential opportunities and threats. The SWOT analysis takes the information from an environmental analysis and separate it into internal (strengths and weaknesses) and external issues (opportunities and threats). Once this is completed, SWOT analysis determines what can be of assistance to the organization in accomplishing its objectives, and what obstacles must be minimized to achieve desired results. [1]


Toolkit.png Conducting a SWOT Analysis

Headings

  1. Strength : An internal competence, valuable resource or attribute that an organization can use to exploit the external environment. For example : competitive advantages, resources, certifications, experience, management cover, communication. The aim of the Swot is to maintain, build, and leverage.
  2. Weakness : An internal lack of competence, resource or attribute that an organization requires to perform in the external environment. For example : gaps in capabilities, reputation, financials, reliability of data. The aim of the Swot is to remedy or exit.
  3. Opportunity : An external possibility that an organization can pursue or exploit to gain benefit. For example : market developments, competitors' vulnerabilities, information and research. The aim of the Swot is to prioritise and optimise.
  4. Threat : An external factor that has the potential to reduce an organization's performance. For example : political and environmental effects, market demand, IT developments. The aim of the Swot is to counter.

Strengths and opportunities are identified as enhancers to desired performance, while weaknesses and threats are inhibitors.[2]


Step by Step

  • A brainstorming should be conducted, in order to get informations about the stengths of the organization. The facilitator distribute paper card and ask participants to write what are the things that they consider as strengths points, everyone is allowed to write as many things as wanted. The facilitator then collects all the paper on place them on a board. He eliminates all redundant inputs.
  • The same procedure should be repeated for weaknesses, opportunities and threats. Categorize all the Swot factors into a Swot matrix and work to build consensus around the placement of them.
  • The situation is then analyzed by looking for ways in which the group/organization’s strengths can be built on to overcome identified weaknesses, and opportunities can be taken to minimize threats;
  • A strategy for making improvements is formulated and subsequently developed using a number of additional planning tools. [3]

SWOT Matrix

SWOT table.jpg

Job Aids

References

  1. ↑ www.answers.com (20 August 2008), www.netmba.com (20 August 2008), en.wikipedia.org (20 August 2008)
  2. ↑ www.businessballs.com (3 October 2008), web.worldbank.org
  3. ↑ www.quickmba.com (13 August 2008), Wikipedia (13 August 2008), Project Cycle Management Guidelines, European Commission, 2004
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