March 11, 2013

Using SWOT analysis constructively

Up until this RDM module, creating and using SWOT analysis has been a pretty much uncomplicated thing for me. For me, SWOT was predominantly a tool to identify the strengths, weaknesses, opportunities, and threats. However, after watching the short video shown in class and implementing it during the in module work, several facets of SWOT emerged. It gives you an overview and should be constructed in such a manner so as to help in decide the overall strategy. It should help you DECIDE.

Strengths and weakness refer to internal factors while opportunities and threats refer to internal and external BOTH. I believe brainstorming before listing down the relevant factors is essential. This would help in team building, communication, and getting out ideas on to the board. SWOT analysis certainly comes forth as being clear, simple, and timely. However, the important thing here is to consider all the relevant metrics and factors; prioritizing and improving bottom line should be the eventual objective over here.

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