1. Strengths- Strengths are
the qualities that enable us to accomplish the organization’s mission. These
are the basis on which continued success can be made and continued/sustained.
Strengths can be either tangible or intangible. These are what you are well-versed
in or what you have expertise in, the traits and qualities your employees
possess (individually and as a team) and the distinct features that give your
organization its consistency. Strengths are the beneficial aspects of the
organization or the capabilities of an organization, which includes human
competencies, process capabilities, financial resources, products and services,
customer goodwill and brand loyalty. Examples of organizational strengths are
huge financial resources, broad product line, no debt, committed employees,
etc.
2. Weaknesses- Weaknesses are
the qualities that prevent us from accomplishing our mission and achieving our
full potential. These weaknesses deteriorate influences on the organizational
success and growth. Weaknesses are the factors which do not meet the standards
we feel they should meet. Weaknesses in an organization may be depreciating
machinery, insufficient research and development facilities, narrow product
range, poor decision-making, etc. Weaknesses are controllable. They must be
minimized and eliminated. For instance - to overcome obsolete machinery, new
machinery can be purchased. Other examples of organizational weaknesses are
huge debts, high employee turnover, complex decision making process, narrow
product range, large wastage of raw materials, etc.
3. Opportunities- Opportunities
are presented by the environment within which our organization operates. These
arise when an organization can take benefit of conditions in its environment to
plan and execute strategies that enable it to become more profitable.
Organizations can gain competitive advantage by making use of opportunities.
Organization should be careful and recognize the opportunities and grasp them
whenever they arise. Selecting the targets that will best serve the clients
while getting desired results is a difficult task. Opportunities may arise from
market, competition, industry/government and technology. Increasing demand for
telecommunications accompanied by deregulation is a great opportunity for new
firms to enter telecom sector and compete with existing firms for revenue.
4. Threats- Threats arise
when conditions in external environment jeopardize the reliability and
profitability of the organization’s business. They compound the vulnerability
when they relate to the weaknesses. Threats are uncontrollable. When a threat
comes, the stability and survival can be at stake. Examples of threats are -
unrest among employees; ever changing technology; increasing competition
leading to excess capacity, price wars and reducing industry profits; etc.
|
Positive factors
|
Negative factors
|
|
Internal factors
|
Strengths
|
Weaknesses
|
|
External factors
|
Opportunities
|
Threats
|
Business SWOT Analysis
What makes SWOT particularly powerful is that, with a little thought, it
can help you uncover opportunities that you are well placed to exploit. And by
understanding the weaknesses of your business, you can manage and eliminate
threats that would otherwise catch you unawares.
More than this, by looking at yourself and your competitors using the
SWOT framework, you can start to craft a strategy that helps you distinguish
yourself from your competitors, so that you can compete successfully in your
market.
How to Use SWOT Analysis
Originated by Albert S Humphrey in the 1960s, SWOT Analysis is as useful
now as it was then. You can use it in two ways - as a simple icebreaker helping
people get together to "kick off" strategy formulation, or in a more
sophisticated way as a serious strategy tool.
My swot
analysis
Strengths: hard working, passionate works well in
teams, personality I come up with good ideas, listen to what people have to say
work together organized, good drawer; know how to use Photoshop z brush
Threats: Dyslexia, lack of confidence shy, nerves
Weaknesses: Dyslexia,
lack of confidence shy, nerves
Opportunities:
learning z brush Photoshop concept art game theory
Time: I work well in time and if I run out of time during class i will carry on after work
Once you have planned your
project, turn your attention to developing several goals that will enable you
to be successful. Goals should be SMART - specific, measurable, agreed upon,
realistic and time-based.
A goal might be to hold a
weekly project meeting with the key members of your team or to organise and run
a continuous test programme throughout the project.
The acronym SMART has a number
of slightly different variations, which can be used to provide a more
comprehensive definition for goal setting:
S - specific, significant, stretching
M - measurable, meaningful, motivational
A - agreed upon, attainable, achievable,
acceptable, action-oriented
R - realistic, relevant, reasonable,
rewarding, results-oriented
T - time-based, timely, tangible, trackable
This provides a broader
definition that will help you to be successful in both your business and
personal life.
When you next run a project
take a moment to consider whether your goals are SMART goals.
To quote renowned American
philanthropist Elbert Hubbard:
"Many people fail in life,
not for lack of ability or brains or even courage, but simply because they have
never organised their energies around a goal."
Smart targets
Got dyslexia my smart target will
read a lot more take remember test/games
Im not brilliant on z brush target
work on it a lot more watch videos tutorials