SWOT

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SWOT

  1. 1. SWOT Dr. Norris Dorsey
  2. 2. Agenda <ul><li>Review What is SWOT </li></ul><ul><li>SWOT analysis and strategy formulation </li></ul><ul><li>Assignment clarification </li></ul>
  3. 3. Review of SWOT <ul><li>SWOT analysis is a comparison of strengths, weaknesses, opportunities, and threats that help executives formulate strategy. </li></ul><ul><li>Analysis of internal strengths and weaknesses </li></ul><ul><li>Analysis of external opportunities and threats </li></ul><ul><li>Trends in corporate strategy </li></ul>
  4. 4. SWOT Analysis www.marketingteacher.com Threats Opportunities Weaknesses Strengths
  5. 5. Strengths <ul><li>Pull ideas from people with a variety of experiences & backgrounds/expertise </li></ul><ul><li>Gets the job done faster </li></ul><ul><li>Two or more heads are better than one </li></ul><ul><li>Learn something new from someone else </li></ul><ul><li>Benefits from strengths of numerous people </li></ul><ul><li>Get inspired by others (hopefully) </li></ul><ul><li>Get to learn/work on ideas/concepts you might not have thought of on your own </li></ul><ul><li>There would be a competition so that employees would work harder and to reach their goals. </li></ul><ul><li>Opportunity to learn from other members. Others can use this skills when you are lacking </li></ul><ul><li>Diversity of ideas, varying points of view </li></ul><ul><li>Brainstorming, coming up with ideas & points that other teammates might have missed </li></ul><ul><li>Bring in different skills </li></ul><ul><li>Split up different tasks; everyone does their best </li></ul><ul><li>Common Goal where sum of parts greater than individuals results in higher achievement </li></ul><ul><li>More ideas presented, more creative </li></ul><ul><li>Generate better ideas than what is possible by yourself </li></ul><ul><li>If the team has mutual respect, everyone aspires to work hard and for the good of the group </li></ul><ul><li>Leadership skills are important </li></ul><ul><li>Creative and think outside of the box </li></ul><ul><li>Innovation, original thoughts and concepts </li></ul>
  6. 6. Weaknesses <ul><li>May be difficult to reach consensus </li></ul><ul><li>Slows down if one or more person fail to do the job assigned </li></ul><ul><li>Too many cooks spoil the soup </li></ul><ul><li>Schedules may not line up and it’s hard to meet </li></ul><ul><li>Personalities can clash and stop progress </li></ul><ul><li>Wrong personality match </li></ul><ul><li>One person may end up working harder just to have the project done </li></ul><ul><li>Personalities, may get a domineering personality, or someone does not pull their weight </li></ul><ul><li>People with difficulty delegating or trusting the work of others may end up frustrated or being a controlling team member </li></ul><ul><li>Conflict of personalities might cause problems </li></ul><ul><li>Things may not get done in timely manner, if there’s no organizes/planner in the group </li></ul><ul><li>Different personalities/characters that collide and make it hard to work constructively </li></ul><ul><li>Best idea may not prevail depending on consensus of group </li></ul><ul><li>Incentives may be different </li></ul><ul><li>“ Pass the buck” mentality </li></ul><ul><li>If someone is not as strong in an area, the team may not want to work for that person to understand </li></ul><ul><li>If people in the group have major disagreements they can’t put to a solution </li></ul><ul><li>Differences within the team days delivery of “product” differences hinder fast decision making </li></ul><ul><li>Initial uncertainty, personalities blend </li></ul>
  7. 7. Opportunities <ul><li>Opportunity to gain new insights and develop leadership skills </li></ul><ul><li>Meet new people </li></ul><ul><li>To learn something new/or you don’t know from others </li></ul><ul><li>Opportunity to notice their abilities and powers </li></ul><ul><li>To emerge as a leader, show leadership, team-motivation skill </li></ul><ul><li>Develop interpersonal skills </li></ul><ul><li>To learn much more than just what the project could have enable you to </li></ul><ul><li>To learn new technical skills </li></ul><ul><li>Realizing your shortcomings or mistakes through your teammates observations </li></ul><ul><li>Be able to teach other teammates something you’re good at </li></ul><ul><li>Acquire more leadership skills and learn to push one’s own ideas </li></ul><ul><li>Develop teamwork skills </li></ul><ul><li>Learn how to take different approaches to similar problems </li></ul><ul><li>Get inspired from different ways of solving problem </li></ul><ul><li>Learn from people who have more “ real world” experience </li></ul><ul><li>Learn new approach to solving problems </li></ul><ul><li>Build leadership skills in a safe environment </li></ul>
  8. 8. Threats <ul><li>Inertia “ Bogged down in committee” </li></ul><ul><li>Be underappreciated and have no opportunity to shine </li></ul><ul><li>Someone taking credit for what you did </li></ul><ul><li>“ If a leader is assigned, they may receive the majority of the credit if a job is well done” </li></ul><ul><li>People who are not willing to put forth the same amount of effort as everyone else </li></ul><ul><li>Personalities may clash and cause friction, thus causing tension in the year resulting in less than desirable results </li></ul><ul><li>Totally different approach by different characters that endangers a healthy process </li></ul><ul><li>Assume other people will do what is required </li></ul><ul><li>Nobody will take the responsibility </li></ul><ul><li>Company promises there will not be layoffs at the end of the day, there are layoffs </li></ul><ul><li>Different and not widely tested approaches can significantly kills a company/business/organization </li></ul><ul><li>Can be difficult to get many people in the same place at the same time-scheduling conflicts </li></ul><ul><li>Different approaches to dealing with others and managing others </li></ul><ul><li>Powerful personalities can derail team dynamics </li></ul>
  9. 9. Trends <ul><li>Successful projects seem to benefit more from groups as apposed to individual work </li></ul><ul><li>“ Electronic advancement, calendar sharing, ease of sharing information. People no longer has to meet in person” – Jessie R </li></ul><ul><li>Learn to adjust to other personalities </li></ul><ul><li>Technology helping to organize </li></ul><ul><li>Learn different mind sets from each other </li></ul><ul><li>More ideas </li></ul><ul><li>Trends can substantially open a new market/ business. However, you need creativity and be also firm on the ground </li></ul>
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