SWOT Analysis

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  • Most - will know what SWOT is Many - done one as part of Business Plan Some - may not be familiar. Don't want to patronise Don't want to assume knowledge Do want to create learning environment for us all, share understanding.
  • ITSM – Information Technology Service Management Means Mick is accredited to manage businesses operational management systems
  • Simple, powerful framework. Helps you focus on strengths and minimise threats
  • Key factors – Strengths and weaknesses are usually your Internal factors – what is going on inside your business Opportunities and Threats are you External factors – what is going on outside your business Strengths and Opportunities relate to positive factors Weaknesses and Threats relate to negative factors
  • Be brave – celebrate your strengths, but be brutally frank about where your could be better – this is NOT an academic exercise Don’t be sucked into a false optimism or the depths of depression on the basis of your current situation. This tool is intended to help you plan for your future Try to avoid phrases like “I want to be the best” or “We could be better at…” – be specific in what you want and what you need – again, brutal honesty is required It’s not always possible or realistic, but try to base the analysis of your business on how you compare to your direct competitors. How will you be better, cheaper, quicker than them? For the sake of your and your staff’s sanity, keep this process manageable. Again, remember that it’s not an academic exercise – you need to set realistic timeframes as well as goals Look for what makes you different, unique. Think back to your start-up days - why you believed you could succeed where others have failed. What are your USP’s?
  • Often helpful to do a PEST analysis before doing a SWOT analysis – looking at broader factors Particularly useful for large businesses to gain a vision for the future of the industry Useful when starting operating in a new country or area and for determining the continuing principal viability of your business
  • Useful for assessing the nature of competition of an industry. Porter explains that there are five forces that determine industry attractiveness and long-run industry profitability. These five "competitive forces" are: - 1. The threat of entry of new competitors (new entrants) – how will that affect your profitability and customer base? - 2. The degree / intensity of rivalry between existing competitors – how do you see new entrants into your market – as rivals or colleagues who can increase volume? - 3. The threat of substitutes (e.g. cowboy competitors) – how will they affect the value of your market? Are there opportunities for you to differentiate and so increase your profile? - 4. The bargaining power of suppliers – the more there are, the less power they have – have you actively looked for alternative suppliers? - 5. The bargaining power of buyers – the more competitors you have, the greater the bargaining power of your buyers (customers) – look for that USP and look at your competitors so you can effectively become a sole supplier again
  • Strengths: Good networking, small geog. area Weakness: Small geog. area Opportunities: Growing demand for quality services Threat: Economic climate
  • Group exercise on turning around negative thoughts.
  • SWOT Analysis

    1. 1. What is a SWOT Analysis? and how to develop one Carol & Mick Page New Page: New Life
    2. 2. Aim of this session <ul><li>To summarise previous SWOT analysis presentation </li></ul><ul><li>To review the PBN SWOT analysis </li></ul><ul><li>To address the Weaknesses and Threats. </li></ul>
    3. 3. Our Background <ul><li>Carol – Personal Life Coach </li></ul><ul><li>Spiritual Healthcare Provider in NHS </li></ul><ul><li>Experience in teaching/training, mentoring, supervision, facilitation </li></ul><ul><li>BA, MA, Counselling Cert, Dip Personal Performance Coaching, Harassment Advisor, Advance Communication Skills training </li></ul><ul><li>Mick – Teacher, Senior Project Manager, IT Consultant </li></ul><ul><li>Primary School Teacher </li></ul><ul><li>Schools Advisor for cross-curricula and IT </li></ul><ul><li>Senior Project Manager </li></ul><ul><li>Currently teaching at The Learning Centre, Pegeia </li></ul><ul><li>BA Education, PRINCE2, ITIL (IT Service Management) accredited. </li></ul>
    4. 4. What is a SWOT Analysis? <ul><li>An acronym for analysing your… </li></ul><ul><ul><ul><ul><ul><li>S trengths </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>W eaknesses </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>O pportunities </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>T hreats. </li></ul></ul></ul></ul></ul>
    5. 5. Uses of SWOT Analysis <ul><li>Starting a new company (e.g. position in market, commercial viability) </li></ul><ul><li>Determining a method of sales distribution </li></ul><ul><li>Developing a product, brand or business idea </li></ul><ul><li>Deciding strategic options (e.g. new markets, new products) </li></ul><ul><li>Establishing a potential partnership </li></ul><ul><li>Changing a supplier </li></ul><ul><li>Outsourcing a service, activity or resource </li></ul><ul><li>Investigating an investment opportunity. </li></ul>
    6. 7. <ul><li>What do you do well? </li></ul><ul><li>What do you do better than anyone? </li></ul><ul><li>What resources can you draw on? </li></ul><ul><li>What do others see as your strengths? </li></ul><ul><li>What advantages does your company have? </li></ul><ul><li>What factors mean that you ‘get the sale’? </li></ul><ul><li>What do you do badly? </li></ul><ul><li>What could you improve? </li></ul><ul><li>What should you avoid doing? </li></ul><ul><li>What can’t you do that others can? </li></ul><ul><li>Where do you have fewer resources than others? </li></ul><ul><li>What are others likely to see as weaknesses? </li></ul><ul><li>What factors lose you sales? </li></ul><ul><li>What opportunities are open to you? </li></ul><ul><li>What trends can you take advantage of? </li></ul><ul><li>How can you turn your strengths into </li></ul><ul><li>opportunities? </li></ul><ul><li>What gaps are there in the market? </li></ul><ul><li>What special knowledge do you have? </li></ul><ul><li>What obstacles do you face? </li></ul><ul><li>What can harm you? </li></ul><ul><li>What is your competition doing? </li></ul><ul><li>Are the required specifications for your job, </li></ul><ul><li>products or services changing? </li></ul><ul><li>Is changing technology threatening you? </li></ul><ul><li>Do you have bad debts or cash flow problems? </li></ul><ul><li>Could any of your weaknesses threaten your </li></ul><ul><li>business? </li></ul>Threats Opportunities E X T E R N A L Weaknesses Strengths I N T E R N A L NEGATIVE POSITIVE
    7. 8. Guidelines <ul><li>Be realistic about your strengths and weaknesses </li></ul><ul><li>Distinguish between where your business is today, and where it could be in the future </li></ul><ul><li>Be specific. Avoid grey areas </li></ul><ul><li>Generally analyse in relation to your competition </li></ul><ul><li>Keep your SWOT short and simple </li></ul><ul><li>Try to include strengths and opportunities not available to your competitors. </li></ul>
    8. 9. One-person business? Employ a Business Coach or work with a fellow member of the PBN Disadvantages Advantages Who does the SWOT? <ul><li>May be blind to certain </li></ul><ul><li>issues </li></ul><ul><li>Eliminates opportunity for </li></ul><ul><li>team building exercise </li></ul><ul><li>Faster to execute </li></ul><ul><li>Director will have greater </li></ul><ul><li>knowledge of issues </li></ul>Director only <ul><li>Leader (or another) can </li></ul><ul><li>dominate discussion </li></ul><ul><li>Some may feel intimidated </li></ul><ul><li>or de-motivate others </li></ul><ul><li>Improves team spirit </li></ul><ul><li>Members inspire one another </li></ul><ul><li>Helps raise motivation </li></ul>As a Team <ul><li>Longer process </li></ul><ul><li>Some may find it hard to do </li></ul><ul><li>Individuals are less likely to </li></ul><ul><li>have view of the competition </li></ul><ul><li>Improves team spirit </li></ul><ul><li>Members inspire one another </li></ul><ul><li>Helps raise motivation </li></ul>Individually then corporately
    9. 10. PEST Analysis <ul><li>Concerned with environmental influences </li></ul><ul><ul><ul><ul><ul><li>P olitical / legal </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>E conomic </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>S ocial / cultural </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>T echnological. </li></ul></ul></ul></ul></ul>
    10. 11. Michael Porter’s 5 Forces Model
    11. 12. <ul><li>To consider and address the W eaknesses and T hreats identified for the P aphos B usiness N etwork </li></ul>Objective of the session
    12. 13. Considering Threats & Weaknesses Threats Opportunities Strengths Weaknesses Confront Avoid Exploit Search From: Rowe, Mason, Dickel, Mann, Mockler; “Strategic Management: a methodological approach”
    13. 14. Dealing with Threats & Weaknesses (Risk Management) <ul><li>Identify </li></ul><ul><ul><li>Probability </li></ul></ul><ul><ul><li>Impact </li></ul></ul><ul><ul><li>Priority </li></ul></ul><ul><li>Control </li></ul><ul><ul><li>Avoid </li></ul></ul><ul><ul><li>Terminate </li></ul></ul><ul><ul><li>Treat </li></ul></ul><ul><ul><li>Transfer </li></ul></ul><ul><ul><li>Tolerate </li></ul></ul><ul><li>Monitor </li></ul>
    14. 15. SWOT Analysis for Paphos Business Network Threats Larnaca BN may cause diversity and decrease membership of PBN Other networking groups Exchange rate (removes potential customers) Our limiting self-beliefs Lack of results Poor attendance Opportunities Larnaca BN can expand network and provide new opportunities Availability of skills & resources Add PBN banner to our websites Post news on CyprusDailyNews.info Integration with Cyprus businesses Island-wide growth Public visibility of PBN member services WWW Drive web-site towards public E X T E R N A L Weaknesses Inconsistent and poor attendance Level of core membership Not quick enough to take actions General administration (inc Web administration) Lack of formality Not maximising web-site resource Lack of promotion Lack of cash / people resources Lack of trust between businesses Business cards Strengths Good networking Growing membership Strong established companies Diverse in professions / businesses Benefits from experience Strong skill sets Keen to succeed Internal knowledge/know-how Cross-fertilisation of networks Has credibility and trust as a network Greater respect Ursula (dedicated resource) I N T E R N A L NEGATIVE POSITIVE
    15. 16. New Page : New Life opportunity Business Management Training Course <ul><li>Goal Setting </li></ul><ul><li>Delivering Successful Projects (8 Feb) </li></ul><ul><li>Communication (1 March) </li></ul><ul><li>Emotional Intelligence (29 March) </li></ul><ul><li>Stress Management (19 April) </li></ul><ul><li>Venue: ProACT new office </li></ul><ul><li>Time: 7.00 – 9.30 pm </li></ul><ul><li>Cost: €60 per session </li></ul>On-going course covering:
    16. 17. <ul><li>New Page : New Life </li></ul><ul><li>We are available for: </li></ul><ul><li>Personal and Business Coaching </li></ul><ul><li>Personalised Training Courses </li></ul><ul><li>Team Building, Facilitation, Mentoring </li></ul><ul><li>IT training and support </li></ul><ul><li>Ceremonies, Blessings, Eulogies </li></ul><ul><li>For consultation or further details contact us </li></ul><ul><li>Carol: 9907 8545 </li></ul><ul><li>Mick: 9672 3118 </li></ul><ul><li>E-mail: [email_address] </li></ul><ul><li>[email_address] </li></ul><ul><li>Website: www.newpagelc.co.uk </li></ul>

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