Whats a SWOT?A SWOT analysis is a structured group activity thats useful inidentifying the internal and external forces that drive your competitiveposition .SWOT is an acronym for Strengths, Weaknesses, Opportunities andThreats. For purposes of this exercise, we define each as follows.
Strengths - Identify any existing or potential resource or capability withinyourself or company that provides a competitive advantage. , you might defineyour capabilities as having For example: Strong customers serviceability, sales skill, your personal contacts, people skills, technicalexperience, work habits, production experience, Estimatingskills ,etc…. The thing to notice from the definitions above is Strengths and Weaknesses are inward-looking You generate ideas and gather feedback within the context of yourself or company.
Opportunities - are existing or potential forces in the externalenvironment that, if properly exploited, could provide a competitiveadvantage. For example: high customer satisfaction ratings,raving fans, untapped knowledge offered from paint jobberrelationships, untapped use of new technologies, untappedskill from technicians and so on.Threats - Pertain to any existing or potential force in theexternal environment that could inhibit the maintenance orattainment of a competitive advantage. For examples a lossof key DRP partner ,new or “revived” competitor, loss of a key fleetcustomer(s), loss of a key jobber relationship, lack of newexperience technician to the industry, etc.
• Be realistic about the strengths and weaknesses of your organizationwhen conducting SWOT analysis.• SWOT analysis should distinguish between where your organization istoday, and where it could be in the future.• SWOT should always be specific. Avoid grey areas.• Always apply SWOT in relation to your competition i.e. better than orworse than your competition.• Keep your SWOT short and simple. Avoid complexity and over analysis• SWOT is subjective.
Strengths Weakness Good Work Habits Lack of training opportunities Step#1 work sheet list
Opportunities Threats Group Associations, 20 Group, Unaware of potential competition Peer Groups Step#1 work sheet list
Clarify ideas.Review each idea within each of the domains; ask clarifying questionswhile discussing the underlying drivers of each idea. It will help to askmembers who presented an idea to help clarify and explain to the restof the team what they meant about the idea. Remember, the goal inthis step is to clarify. Avoid debating the importance of any particularidea.Step#2
Plan of action…Review your SWOT matrix with a view to creating an action plan toaddress each of the four areas.Step#3
Randy S Ferrese Sr. 824 Blue Bird circle Mays Landing, NJ 08330 609 576 4244 Randy@bodyshopinabox.net In summary: Strengths need to be maintained, built upon or leveraged. Weaknesses need to be remedied, changed or stopped.Opportunities need to be prioritized, captured, built on and optimized. Threats need to be countered or minimized and managed.