Understanding and Applications of SWOT Analysis
Topics Covered in Course
- Understanding how and when to leverage a SWOT Analysis and on what types of scenarios
- Creating a SWOT Analysis diagram
- Review of other strategic Analysis models
- Leveraging the matching and converting technique
- Understanding internal and external factors that impact your organization
- Understanding SWOT’s criticisms
- Leveraging it within your organization
- Steps to implement within your organization
- Benefits and limitations of utilizing a SWOT Analysis
- Understanding how TOWS is leveraged for strategic planning once a SWOT Analysis is completed
- Leveraging your strengths to take advantage of the opportunities
- Taking advantage of your strengths to avoid real and potential threats
- Leveraging your opportunities to overcome the weaknesses you are experiencing
- Minimizing your weaknesses and avoiding threats
- SWOT Analysis Diagrams & Examples
- SWOT Issue Tracking Log
- TOWS Analysis Diagram
Detailed Course Description
A SWOT Analysis, also known as Competitor Profiling when leveraged on a competitor, is a structured planning method used to evaluate the strengths, weaknesses, opportunities, and threats involved in a project or in a business situation. A SWOT Analysis can be carried out for a product, place, industry, company, or person. It involves specifying the objective of the business situation or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective.
This online course will provide you an overview of what a SWOT Analysis entails and provide real-world applications of implementing it. SWOT Analysis is one of the most popular analysis tools, and this course will review its framework and application to everyday business scenarios and provide you the techniques and templates to apply to your own scenarios.
Once you have completed a SWOT Analysis, we’ll introduce the TOWS matrix, created by Heinz Weihrich, which puts the results of your SWOT Analysis into an action plan. A SWOT Analysis systematically sorts out information and sets priorities. TOWS rearranges this information, provides a framework to identify possible strategic options to pursue, and creates inputs for strategic planning by answering a set of questions.
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