S.W.O.T ANALYSIS
S.W.O.T analysis is one management method used to e
valuate
the Strengths, Weaknesses, Opportunities, and Threa
ts involved
in your department and/or operation.
The aim of any S.W.O.T analysis is to identify the
key internal
and external factors that are important to achievin
g your
department/company’s objectives.
Definitions of S.W.O.T
•
S
trengths: characteristics of the business or team t
hat give it an advantage over
others in the industry.
•
W
eaknesses: characteristics that place the departmen
t/company at a disadvantage
relative to others.
•
O
pportunities: external chances to make greater sale
s or profits in the environment.
•
T
hreats: external elements in the environment that c
ould cause trouble for the
business.
You need to dedicate one day with your senior staff
, lock yourselves in a room away from
any distractions and generate meaningful discussion
items on each S.W.O.T definition.
If done successfully, you should come away with:
•
What your operation does better than the competitor
(s)
•
What competitors do better than your operation
•
Whether your operation is making the most of the op
portunities available
•
How your operation should respond to changes in its
external environment
A key challenge for your operation is the ability t
o convert weaknesses into strengths
E.g.:
skills gap
- invest in more training & more effective recruitme
nt
poor quality
- invest in quality assurance
There is no point in producing a S.W.O.T analysis u
nless it is actioned