Determining the attainability of an objective<br /> If the objective is NOT attainable a different objective must be selected and the process repeated.<br />
Generating Strategies<br />If the objective seems attainable, generate the possible strategies creatively. <br />This can be achieved by asking and answering the four questions repeatedly :<br /><ul><li> How can we Utilize each Strength?
How can we Exploit and Benefited from each</li></ul> Opportunity? <br /><ul><li> How can we Mitigate each Threat? </li></li></ul><li>Brainstorming Aid Kit<br />used to generate more strategies and ideas. <br />For a one-person brainstorming session, using an idea map on a large piece of paper or a butcher paper is useful.<br />For bigger groups, have a moderator to choose who will offer an idea next, so that several people don't speak at once. <br />A typical session should be limited to about 15-20 minutes.<br />
Mind mapping strategy of SWOT Analysis for AirAsia<br />
Prioritise the list for each SWOT factor into a table as shown below<br />SWOT Summary for AirAsia<br />
Matching and converting<br />Matching<br />– used to find competitive advantages by matching the strengths to opportunities.<br />Converting <br />– to convert threats or weaknesses into strengths or opportunities. <br />– If the threats or weaknesses cannot be converted a company should try to minimize or avoid them.<br />
Why SWOT Analysis Is Used?<br />SWOT Analysis is a suitable evaluative tool used in all sorts of decision-making situation. <br />Easy to be applied, time-efficient, easily scored and practical.<br />Enables to force thoughtful, strategic and creative thinking.<br />Enables to access new dimension of competitive position. <br />The usefulness of SWOT analysis is not limited to profit-seeking organizations.<br />
Can be used in pre-crisis planning and preventive crisis management. <br />Can be used in creating a recommendation during a viability study.<br />Potential risk or opportunity objects are highlighted in SWOT analysis. <br />SWOT-landscape indicates strength or weakness factors that have highest influence.<br />