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Inaswotanalysiscan oftenbefoundintheorganizationsand

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Unformatted text preview: hink of our product quality, service quality, customer service, price, overall value, convenience, and promotional messages in comparison to our competitors? – What is the relative importance of these issues as stakeholders see them? Taking the stakeholders’ perspective is the cornerstone of a well done SWOT analysis Look for causes not Look for causes not characteristics Causes for each issue in a SWOT analysis can often be found in the organization’s and competitors’ resources Major types of resources: – – – – – – – – Financial Organizational Intellectual Informational Legal Relational Human Reputation Separate internal Separate internal and external issues Failure to understand the difference between internal and external issues is one of the major reasons for a poorly conducted SWOT analysis – – – – Know yourself Know your customer/stakeholder Know your competitors Know your environment The elements of a SWOT The elements of a SWOT analysis Strengths and weaknesses – – – Scale and cost economies Size and financial resources Intellectual, legal, and value of reputation Opportunities and threats – – – Trends in the competitive environment Trends in the technological environment Trends in the socio­cultural environment SWOT­driven planning SWOT­driven planning 1. The assessment of strengths and weaknesses should look beyond products, services and resources to examine processes that meet customers’ or stakeholders’ needs 2. Achieving goals and objectives depends on transforming strengths into capabilities by matching them with opportunities 3. Weaknesses can be converted into strengths with strategic investment. Threats can be converted into opportunities with the right resources 4. Weaknesses that cannot be converted become limitations which must be minimized if obvious or meaningful to customers or stakeholders The SWOT matrix The SWOT matrix Caution Caution SWOT analysis can be very subjective. Do not rely too much on it. Two people rarely come up with the same final version of a SWOT Use it as a guide and not as...
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