Tuesday, May 31, 2011

SWOT Analysis -the key to business planning!

by Orla Leydon of Office and Training Solutions Ltd.

SWOT is an acronym for Strengths, Weaknesses (internal to an organization) , Opportunities & Threats (external to an organization) and is a popular method for helping businesses take stock of their current situation and support decision-making.

The SWOT analysis process……


Step 1 – In the here and now… List all strengths that exist now. Then in turn, list all weaknesses that exist now. Be realistic but avoid modesty!


Step 2 – What might be…List all opportunities that exist in the future. Opportunities are your potential future strengths. Then in turn, list all threats that exist in the future. Threats are your potential future weaknesses.


These CONDUCTING A SWOT ANALYSIS questions will provide a basis for this analysis and will help greatly when brainstorming to thoroughly identify these strengths and weaknesses


Step 3 – Plan of action…Review your SWOT Analysis Grid with a view to creating a structured Action Plan to address each of the four areas. In your action plan remember to 1) Allocate timescales, tasks, people responsible, finances and 2) Build in a review process…when, who how…this is VITAL!


In summary; Strengths (maintain, build and leverage), Opportunities (prioritise and optimise), Weaknesses (remedy or exit), Threats (counter)


Good luck with your SWOT and dont hesitate to contact Orla on 086 3807802 or orla@ots.ie if you would like support to facilitate this process.

Established in 2003 Office & Training Solutions is a FETAC approved training provider and a vibrant and innovative consultancy practice.

5 comments:

  1. great post on SWOT analysis. keep updating this post kindly. this concept is very large in business administration and planning.
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