Using SWOT as a Strategy Facilitation Tool

8,467 views
7,243 views

Published on

6 Comments
75 Likes
Statistics
Notes
No Downloads
Views
Total views
8,467
On SlideShare
0
From Embeds
0
Number of Embeds
182
Actions
Shares
0
Downloads
269
Comments
6
Likes
75
Embeds 0
No embeds

No notes for slide

Using SWOT as a Strategy Facilitation Tool

  1. PROPER FACILITATION OF SWOT-TOWS BRAINSTORMING USING
  2. WHEN USED RIGHT, SWOT IS A POWERFUL BRAINSTORMING TOOL FOR EXPLORING STRATEGY
  3. UNFORTUNATELY, MANY ENTREPRENEURS DON’T KNOW HOW TO USE IT PROPERLY
  4. AND IN MY EXPERIENCE, SWOT HAS LOST ITS PRACTICAL VALUE OVER THE YEARS
  5. ME THINKS IT IS TIME FOR A REFRESHER COURSE
  6. A SWOT STARTS BY LOOKING INWARDS
  7. IT ASKS WHAT STRENGTHS & WEAKNESSES DO YOU BRING TO THE TABLE
  8. BUT IT ALSO CONSIDERS THE EXTERNAL CONTEXT
  9. IT ASKS WHAT OPPORTUNITIES & THREATS ARE IMPACTING YOU FROM THE OUTSIDE
  10. MISTAKE #1 CONFUSING INTERNAL CAPABILITIES VERSUS EXTERNAL DRIVERS
  11. LET’S LOOK AT AN EXAMPLE…
  12. INTERNALEXTERNAL STRENGTH WEAKNESS OPPORTUNITIES THREATS HERE IS A BLANK SWOT TABLE
  13. DRAW ONE OF THESE ON SOME LARGE FLIP CHART PAPER AND TAPE IT TO THE WALL (OR JUST DRAW ON THE WALLS)
  14. HAVE ALL THE MEMBERS OF THE TEAM INDEPENDENTLY (WITHOUT TALKING) WRITE SINGLE IDEAS USING POST-IT NOTES & STICK THEM IN THE RELEVANT CELL
  15. HAVE EVERYONE READ AS A GROUP, CLARIFYING AS REQUIRED, AND MERGING DUPLICATES
  16. WARNING: IN THIS PROCESS, YOU’LL FIND SOME EXAMPLES OF THREATS & OPPORTUNITIES THAT ARE ACTUALLY INTERNAL RATHER THAN EXTERNAL, SO YOU’LL NEED TO REPHRASE THEM OR MOVE THOSE IDEAS TO STRENGTH/WEAKNESS
  17. WARNING: MAKE SURE THAT EVERYONE HAS A CHANCE TO SPEAK UP AND THAT EVERYONE FULLY UNDERSTANDS EACH IDEA
  18. YOU’LL END UP WITH SOMETHING LIKE THIS
  19. INTERNALEXTERNAL STRENGTH WEAKNESS OPPORTUNITIES THREATS Unique domain skills in our market Strong existing client relationships Ahead of the competitors by 6-9 months Mature R&D program Sufficiently sized financial war chest High key-man risk Product- Market fit in new segments Internal politics & bureaucracy Still lack strategic alliances Strong, new entrants Potential regulatory changes Weak macro- economics Traditional competitors moving down into our segment Labour shortage in local market Emerging HNW Insurance segment Growth in Asia Maturity of Mobile / Social / IoT High levels of cash holdings in target segment
  20. HOWEVER, THOUGH INTERESTING, THERE WILL BE NO THOUGHTFUL PRIORITIZATION AT THIS STAGE
  21. MISTAKE #2 NOT PRIORITIZING IDEAS
  22. AS A GROUP YOU NEED TO PRIORITIZE (FORCE-RANK) THE ITEMS IN EACH CELL
  23. TO DO THIS, USE THE WISDOM- OF-CROWDS
  24. START BY GIVING EVERYONE 10 VIRTUAL DOLLARS
  25. ASK EACH PERSON TO INVEST SOME OR ALL OF THEIR $10 INTO THE IDEAS IN EACH CELL BASED ON HOW IMPORTANT THEY FIND THE IDEA (THE FACILITATOR CAN SERVE AS THE BOOKIE)
  26. EVERYONE MUST SPEND ALL THEIR MONEY
  27. YOU CAN SPEND $1 ON AN IDEA, OR ALL $10, OR ANYTHING IN BETWEEN (BUT REMEMBER OTHERS ARE INVESTING TOO, SO SPEND WISELY)
  28. HERE IS AN EXAMPLE OF WHAT THE OUTPUT MIGHT LOOK LIKE FOR THE STRENGTHS CELL, GIVEN A TEAM OF 5 ($50)
  29. INTERNALEXTERNAL STRENGTH WEAKNESS OPPORTUNITIES THREATS Unique domain skills in our market Strong existing client relationships Ahead of the competitors by 6-9 months Mature R&D program Sufficiently sized financial war chest High key-man risk Product- Market fit in new segments Internal politics & bureaucracy Still lack strategic alliances XXX Strong, new entrants Potential regulatory changes Weak macro- economics Traditional competitors moving down into our segment Labour shortage in local market Emerging HNW Insurance segment Growth in Asia Maturity of Mobile / Social / IoT High levels of cash holdings in target segment $25 $14 $6 $4 $1
  30. AT THE END OF THE EXERCISE, YOU’LL HAVE GROUP-DEFINED PRIORITIES
  31. GO THROUGH ALL CELLS AND RE- SORT IDEAS ACCORDING TO THE PRIORITIES (FOCUS ON THOSE THAT NATURALLY BUBBLED UP BASED ON INVESTMENT SIZES. IF YOU HAVE A LARGE ENOUGH TEAM, THERE WILL BE OBVIOUS WINNERS & LOSERS THANKS TO STATISTICS)
  32. INTERNALEXTERNAL STRENGTH WEAKNESS OPPORTUNITIES THREATS 1. Strong existing client relationships 2. Unique domain skills Mature R&D program 3. Sufficiently sized financial war chest 4. Mature R&D program 5. Ahead of the competitors 1. High key-man risk 2. Product-Market fit in new segments 3. Still lack strategic alliances 4. Internal politics & bureaucracy 1. Strong, new entrants 2. Traditional competitors moving down into our segment 3. Labour shortage in local market 4. Weak macro-economics 5. Potential regulatory changes 1. Emerging HNW Insurance segment 2. Maturity of Mobile / Social / IoT 3. High levels of cash holdings in target segment 4. Growth in Asia
  33. NOW IT IS TIME TO DEVELOP ACTIONABLE SMART OBJECTIVES USING A TOWS DIAGRAM
  34. SMART ACTION ITEMS ARE: SPECIFIC MEASURABLE ACHIEVABLE RELEVANT (TO STRATEGY) TIMELY
  35. IN A TOWS DIAGRAM, YOU SHIFT THE SWOT CELLS TO THE OUTSIDE OF A NEW GRID
  36. STRENGTH 1. Strong existing client relationships 2. Unique domain skills Mature R&D program 3. Sufficiently sized financial war chest WEAKNESS 1. High key-man risk 2. Product-Market fit in new segments OPPORTUNITIES 1. Emerging HNW Insurance segment 2. Maturity of Mobile / Social / IoT THREATS 1. Strong, new entrants 2. Traditional competitors moving down into our segment 3. Labour shortage in local market
  37. INSIDE THE GRID, YOU ARE LOOKING TO DEVELOP SMART ACTION ITEMS THAT LEVERAGE THE SWOT ACCORDING TO THE FOLLOWING RULES
  38. SMART ACTIONS TO USE STRENGTHS TO DELIVER OPPORTUNITY SMART ACTIONS TO ENSURE WEAKNESS DOES NOT UNDERMINE OPPORTUNITY SMART ACTIONS TO USE STRENGTHS TO COUNTER THREATS SMART ACTIONS TO ENSURE WEAKNESS DOES NOT HELP MANIFEST THREAT STRENGTH 1. Strong existing client relationships 2. Unique domain skills Mature R&D program 3. Sufficiently sized financial war chest WEAKNESS 1. High key-man risk 2. Product-Market fit in new segments OPPORTUNITIES 1. Emerging HNW Insurance segment 2. Maturity of Mobile / Social / IoT THREATS 1. Strong, new entrants 2. Traditional competitors moving down into our segment 3. Labour shortage in local market
  39. MISTAKE 3 STRATEGY ACTION ITEMS MUST BE SMART
  40. GOOD LUCK, I HOPE YOU FIND SWOT-TOWS USEFUL AS YOU DEFINE AND EVOLVE YOUR STRATEGY
  41. SHARE THIS DECK & FOLLOW ME(please-oh-please-oh-please-oh-please) stay up to date with my future slideshare posts http://www.slideshare.net/selenasol/presentations https://twitter.com/eric_tachibana http://www.linkedin.com/pub/eric-tachibana/0/33/b53
  42. CLICK HERE FOR MORE!!!!

×