SWOT Analysis: Tools, Tips and Best Practices
This presentation will answer some of the most common questions concerning the utilization of SWOT Analysis:
1. When should it be utilized?
2. Who should be involved?
3. How is it conducted?
4. What is the end product or result expected?
SWOT Analysis is utilized as a way to kick start a plan of action designed to achieve a larger business objective or organizational goal. Implementation is crucial!
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Part IV of the presentation speaks to the breadth of the business sustainabilityinitiative. Utilizing the Five Star approach to business sucess. First the Strategies needed to initiate a business sustainability initiative will be addressed. The second part of the Star is the Structure of the business. Next the processes of a business will be addressed with an eye toward sustainability. This is an area where savings in terms of costs and time are enormous. Next the Rewards and Recognition System of the business will be addressed. This aspect is crucial for success. Finally the People of the business must be on board for sustainability to bring the results anticipated.
Part Three concentrates on implementation of a business sustainability initiative. The results to be expected are significant and reasonable if proper planning and implementation takes place. Emphasis is placed on the following areas. First, the three main components of sustainability are; People, Process and the Environment. The proper interaction of these three components will start with a compelling Vision. Examples of businesses with great Vision Statements are included. Next a quick overview is given with regard to implementation, operationalizing and finally transformation of the culture within the business.
Business sustainability is a mega-trend. It is a way for businesses to achieve long term success by focusing on people processes and the environment with traditional buisness results as a goal to be achieved. The focus of this presentation is on the results to be expected from sustainability initiatives. As discussed in Part I, sustainability will be different from company to company and industry to industry. We will discuss some results achieved from a variety of companies in this presentation. Notice the different industries and how sustainability can bring improved results to small, medium and large businesses.
There is not a clear definition of sustainability because it will mean different things to different businesses and different industries. Sustainability started out as part of the going “green” environmentally friendly movement. The purpose for many was to establish efforts from a business standpoint that helps to preserve our planet’s natural resources. However, it has evolved into much more than that. Sustainability is a megatrend that has turned into a viable business strategy which takes into account business sustainability, economic considerations, governmental issues, as well as strong opinions from customers and stakeholders. Sustainability is not just for large businesses. A sustainability strategy properly planned and implemented will create a unique competitive advantage for any business.
Transcript
SWOT Part 2-Tools, Tips and Best Practices
SWOT Part 2-Tools, Tips and Best Practices Glenn Turnerwww.RESULTSwithLDG.com847.541.5299
Presenter's Notes: 1
When to Utilize SWOT
When to Utilize SWOT As part of strategic planningTo plan and kick start a new initiative or opportunityDuring times of change As a way to adjust and refine plans at the half way pointGreat tool to use to organize information gathered from surveys or studies
Presenter's Notes: 2
Who is Involved
Who is Involved Organizational LeadersMiddle ManagementTeam Members
Presenter's Notes: 3
Who is Involved
Who is Involved This should be a collaborative effort as much as possibleEach person involved offers a unique perspective on the strengths and weaknesses and is able to share their experiencesLikewise, each person involved may have information about an opportunity or threat that is essential to gaining a true understanding of your current position and future path
Presenter's Notes: 4
How Do I Get it Done
How Do I Get it Done Choose a facilitator familiar with SWOT. This can be a trusted employee with good listening and facilitating skills or utilize an outside source with this skill set.Set aside an appropriate amount of time to complete the SWOT analysis. Depending on the subject matter it can be done in a few hours to as long as a few days in a large organization. Make sure someone is capturing the notes on a flip chart or white board The Facilitator must be able to engage the group in the discussion. Collaboration is key!The Questions must be pointed and designed to gather the required information
Presenter's Notes: 5
Ask The Right Questions
Ask The Right Questions Internal and External questionsExplore areas of strength and weakness.Be creativeA Final Report with Strengths/Weaknesses/Opportunities and Threats is easily created
Presenter's Notes: 6
What is the End Result
What is the End Result The report generated from the SWOT analysis is used to create a action plan going forward
Presenter's Notes: 7
What is the End Result
What is the End Result Strengths will be utilized to accomplish the objective with clarity and a sense of purposeWeaknesses will be improved upon or planned around The Internal Analysis will bring together all stakeholders in a comprehensive manner
Presenter's Notes: 8
What is the End Result
What is the End Result Opportunities for growth and/or improvement will be understood and a plan put into place to make them a realityThreats will be eliminated or minimized in a strategic mannerThe External Analysis will allow for a clear vision to be established
Presenter's Notes: 9
Make Sure to Implement
Make Sure to Implement Implement the plan Create Action steps based on solid well focused goals (WHYSMART)Follow up to make sure the plan is being achieved
Presenter's Notes: 10
Celebrate Success
Celebrate Success The achievement of business initiatives/goals too often not given the credit it deservesAll who engaged deserve recognition
Presenter's Notes: 11
Duplicate it
Duplicate it Duplicate the success with another initiative SWOT Works so use it
Presenter's Notes: 12
SWOT Wrap Up
SWOT Wrap Up Conclusion
Presenter's Notes: 13
SWOT Part 2-Tools, Tips and Best Practices
SWOT Part 2-Tools, Tips and Best Practices
Presenter's Notes: 14