SWOT analysis consists of four components: Strengths, Weaknesses, Opportunities & Threats.
Strengths: characteristics of the business or project that give it an advantage over others.
Weaknesses: characteristics of the business that place the business or project at a disadvantage relative to others.
Opportunities: elements in the environment that the business or project could exploit to its advantage.
Threats: elements in the environment that could cause trouble for the business or project.
The first step is to identify the strengths of the process, people and products as it relates to the improvement initiative. Identify both tangible and intangible factors; not situational strengths but rather factors over which you can control. The key here is ‘control’ and means internal factors. It usually means internal to the organization but when improving processes, it can be internal to a business unit, department, geographic location, etc.
Second step is and in a similar fashion, look at the weaknesses of process, people and products. Weaknesses are factors that are within your control that detract from delivering value without significant waste. Ask: why are we doing this project?
Third steps is to switch to the opportunities. What is the targeted improvement? What opportunity are you trying to seize? Why are you doing this now? These questions will help identify the key opportunities. In the traditional SWOT, the opportunities portion of the analysis usually refers to external opportunities. In process improvement initiatives, it can be this or internal opportunities as well.
And last . . . address the threats. Ask: what will happen if this process (or product) is not improved. What will be, or has been, the consequences of not improving the situation. Be specific and as detailed as possible. This also is traditionally external threats but as with the opportunities, it can be this or internal threats to the organization.
SWOT analysis aims to identify the key internal and external factors seen as important to achieving an objective. SWOT analysis groups key pieces of information into two main categories:
- Internal factors — the strengths and weaknesses internal to the organization
- External factors — the opportunities and threats presented by the environment external to the organization
The organization can only act on strengths and weaknesses. The ultimate goal of the SWOT Matrix is to determine exactly how best to utilize your strengths to maximize opportunities and get rid of threats. On the other hand, it serves to determine actions so that your weaknesses do not destroy the opportunities or, worst, become even more destructive threats.
Try to avoid complexity and don’t over analyze things. It’s good to keep your SWOT analysis short and simple. Definitely build different strategies and options based on your SWOT analysis.
Quote to live by:
It is important to know the art of strengthening your strengths
which would enable to weaken your weaknesses
and also lay the foundation for availing the opportunities
and negating the threats that come your way. V Munsif.
Proverbs 3:5-6:“Trust in the LORD with all your heart and lean not on your own understanding.”
We all want God to answer our prayers. We believe in the power of prayer, but when it comes down to our own individual lives and problems, we often don’t have the faith to believe that God will answer. Unbelief and independence trap us. But God wants to enlarge our territory and bless us with increase, because His nature is to bless. Our lack of faith and our fear of stepping out in dependence on Him are what get in the way. The truth is that the things we do for God should be outside of our own abilities; they should be evidence that we are trusting in His supernatural ability.
When we back away from dependence, we are not living by faith. We need to be willing to attempt things big enough that unless God steps in, we are sure to fail. Faith is like jumping out of an airplane at fifteen thousand feet. If God doesn’t catch you, you will fall and crash. But how do you know unless you jump? This is the kind of faith and dependence He is looking for in our lives. Remember the prayer of Jabez in 1 Chronicles 4:10:
“Jabez cried out to the God of Israel, ‘Oh, that you would bless me and enlarge my territory! Let your hand be with me, and keep me from harm so that I will be free from pain.’ And God granted his request.”
Jabez cried out to God to enlarge his territory and bless him. He cried out for God’s hand to be with him. Jabez was greatly blessed by God because he didn’t let obstacles become larger than his faith. He knew the character of God and that He loved to bless. We, too, are made for destiny. We have a God-inspired desire to impact our world. Created for something bigger than ourselves, we are designed to touch a lost world. We long to make an impact on our land for eternity, whether it is where we work, live or minister.
But in reality most of us are afraid to step out by faith.
What step of faith is God asking you to take today? Will you put everything into His almighty hands, adjust your life to what you are praying for, and step out by faith in whatever way He leads? When you do this, you become dependent in His dependable hands. He is waiting for your invitation to enlarge your faith.
Gracious Father, as we begin a new day, help us to engage your will with a reckless faith. Teach us to trust in you, and help us grow in righteousness. Heavenly Lord, give us the courage to step out in faith this day. Fill our hearts with your spirit, and let us speak your words with pride.
If something happens by a twist of fate, it happens by chance, and it is strange, interesting, or unfortunate in some way. >>> In nature, we rarely see straight lines. Organic materials tend to have natural curves to them, a natural movement to their form. Snail shells, like the one pictured below, twist as they grow. The center tip of the spiral — the apex — is composed of the snail’s original, baby shell. I find this to be delightfully symbolic of life itself — the path and process of growth being anything but straight and direct.
This week, show us something that doesn’t maintain a straight line.
There’s an old saying that I’m certain you’ve heard before: “May you live in interesting times.” The phrase is a translation of a Chinese curse, because peace, harmony, all those niceties make for a dull existence. War, unrest, injustice—now that makes for interesting times. It’s like Orson Wells said in his famous speech in Carol […]
I stopped for gas a few days ago at one of the busiest gas stations near my home. So, yes, it was a Cumberland Farms. I don’t really know if these convenience stores exist all over the country or just in New England, but if you aren’t familiar with Cumby’s, let me just say that […]
via Read the full story at this link Another Good Deed Goes Noticed — notquiteold
When you give people the benefit of the doubt, you automatically assume that they are nice people trying their best. And your anger dissipates.
And it’s so nice not to be angry.
When you assign benevolent motives to people instead of assuming unpleasant motives, the world itself becomes a more benevolent place.
I recently heard someone I love very much say, “At my age, I am not afraid to say what I think. I’ve earned the right to express my opinion.” And I agree. Except. At my age, I expect civility, kindness, and respect. If your comment is needlessly hurtful or disrespectful – even in the smallest […]
Your About page is your opportunity to tell the world what you’re all about. You might wonder:
How much should I say? How do I set myself apart from everyone else? What’s my story, my unique angle?
There’s no magic formula for a great About page. Here are 10 effective but very different examples.
When sea levels rise rapidly, as they have been doing, a small increase can have devastating effects on coastal habitats. As seawater reaches farther inland, it can cause destructive erosion, wetland flooding, aquifer and agricultural soil contamination, and lost habitat for fish, birds, and plants.
In a widely shared article, Grist writer and meteorologist Eric Holthaus warns about the rapid collapse of Antarctic glaciers and the devastating floods that could ensue.
Our journey started in Rovaniemi. We went grocery shopping, then we headed north. Our first house was to be an AirBnB in Sassali, near Sodankylä. We had a few hours to reach it and still arrive before dusk, so we took our time, and stopped in the Arctic Circle Hiking Area, walking a few kilometers […]