SWOT AnalysisIdentifying barriers to scale
The SWOT analysis is a key workshop session in our strategy development process with clients. It enables leadership teams to develop a clear understanding of the internal strengths and weakness of their business and how best to deal with external opportunities and threats they face.
Whatever business you are in, the only constant is change. This change can be internal in terms of staff turnover, customer retention and funding issues or external in terms of changes in technology, new competitors, changing regulation and Brexit. More than ever, you will need to focus on your strengths and remedy your weaknesses in order to prosper.
We facilitate and document SWOT analysis workshops for this purpose as a key component of our wider strategy development process for clients. These are typically one day sessions where we use our practical business experience and structured approach to objectively help identify the challenges and opportunities facing clients and putting plans in place to deal with them effectively.
Duration: 1 day (including weekend sessions if appropriate i.e. voluntary organisations)
Typical Participants: Executive and Senior Management Teams
Strengths and Weaknesses
These are internal factors – the situation inside your organisation. For example, factors relating to products or services, people, processes, systems, performance, infrastructure etc. These factors tend to be in the present.
Opportunities and Threats
These are external factors – the situation outside your organisation. For example, factors relating to the marketplace, trends, competition, regulation, economic factors, political landscape etc. These factors tend to be in the future.
The output from exploring these in detail is then used to create a SWOT Matrix for your organisation where suggested actions for issues that have been identified can be considered as follows:
Strengths / Opportunities – obvious natural priorities
These are likely to be the quickest and easiest actions to implement which probably justifies you conducting immediate action-planning or a feasibility study.
Strengths / Threats – easy to defend and counter
These are likely to require only basic awareness, planning, and implementation for you to meet these challenges and investment in these issues is generally safe and necessary.
Weaknesses / Opportunities – potentially attractive options
These are likely to produce good returns if you are capable of implementing and are potentially more rewarding than Strengths / Opportunities due to benefits gained from addressing weaknesses and achieving improvements.
Weaknesses / Threats – potentially high risk
These are issues where an assessment of risk is crucial and, where you find the risk is high, you must assess capability gaps and plan to defend/avert them in very specific controlled ways.
This highly collaborative workshop session brings the following benefits to the strategy development process being undertaken:
- You will objectively examine every aspect of your business
- Your strengths will be identified and further developed
- Opportunities will be prioritised and exploited
- Weaknesses will be explored and corrective measures suggested
- Threats will be highlighted for mitigating or elimination
- Issues will arise which translate easily into clear strategy actions
- Your executive and senior management teams will get some valuable time away from daily operations to consider and discuss the challenges you face
The SWOT analysis concludes with you having an agreed list of prioritised actions which will be integral in setting your strategic goals for the future.
FITZGERALD Consulting has a structured process and proven techniques for developing highly effective business strategies that deliver fantastic outcomes for our clients. If you would like us to facilitate a SWOT Analysis Workshop for your company, either as a standalone management exercise or as part of your wider strategy development, then please contact us on 00353 1 685 3953 or submit an enquiry on our website.