The Environments and Strategic Management chapter of your text introduced several strategic planning tools to use at different stages of the strategic management process. One of the challenges of business—and life—is planning for an uncertain future. We introduced the concept of contingency planning previously in the course. In this chapter, we discuss a related process—SWOT analysis: A Situational Analysis Summary or Strengths, Weaknesses, Opportunities, and Threats.
As an advisor for Sun City Boards, your assignment is to, briefly summarize the SWOT framework and develop a SWOT analysis for Sun City Boards. The following detail will help you prepare for your assignment:
FYI: SWOT the analysis provides a structure for analyzing either your own strengths and weaknesses, and the opportunities and threats you face, or in a work context for analyzing the strengths, weaknesses, opportunities and threats a business or event faces. Ideally, it is one step in a process which helps you to
- appreciate the strengths of a situation, and you may then decide to build on these;
- define the weaknesses, which you might choose to minimize;
- make the most of the opportunities that present themselves, and
- recognize the possible threats and treat them in a planned and organized way.
FYI: SWOT analyses are not ends in themselves but a step before some action planning.
FYI: SWOT analyses usually benefit from discussion, get other people’s perspectives. Remember to be realistic and focused on what really happens.
Questions you should ask when conducting each SWOT for Sun City Boards in Detail:
Strengths: * What are your personal strengths?
* What does the company do well?
* What do you do well?
* What is the good track record?
* What do other people see as your strengths?
* Where does the organization compete well?
Weaknesses: * What can be developed
* What could you improve?
* What is working less optimally than you wish?
* What is being done badly?
* What is the competition doing better?
* What should you avoid doing?
Opportunities: * If there were no constraints what would you like to do?
* What might be possible?
* Where do you / your organization want to be in five years’ time?
* Who might you want to work with?
* How may new technologies change your practices?
* What financial / govenmental / legislative changes can benefit you in the near future?
* What could be a win – win situation?
* What will happen in the next few years?
* What are the barriers to your development? * Who else might move in a take over your tasks / job / business?
* What are rival organizations doing? * Will new technologies / developments change you roles?
* What change is coming?
* What sort of obstacles do you face?
* Can you fund the short and long term
Your Task Instructions:
Thoroughly read the SWOT: A Situational Analysis Summary in your Study Plan. (Box #3 Common Framework for Situational Analysis)
- Briefly summarize in one paragraph the role of the SWOT analysis to explain to Tom
- Make a SWOT analysis for Sun City Boards using the example format below:
In a SWOT analysis, you want to note issues (bullet points) under the four headings: