The Importance Of Phase 3 : Assess Your Strategy

A SWOT analysis is a tool used to identify the strengths, weaknesses, opportunities and threats of an organization. A SWOT model measures what an organization can or cannot do as well as the possible opportunities and threats. This is done by taking data from the organization’s environment, analyzing the information and separating it into the internal (strengths and weaknesses) and external (opportunities and threats). When this is completed the analysis can create a plan for the organization to achieve its goals, and identify what difficulties must be overcome to attain

“The outcome of the research phase is not only consensus about the facts of the organization and its environment; it also gives focus to the next step, that of formulating the organization’s vision for itself” (Berman, 2006, p. 70). Organizational mandates and the type of stakeholders that need to be engaged are often identified prior to developing mission, vision and values. Once an understanding of mandates and stakeholders are clear, then the design phase can continue. The MDHHS strategic planning team and its designated stakeholders develop statements to describe what the department does and why it exists, decides upon principles and beliefs that will guide the continued work of the department, and a statement of the ideal future state based on the work the department intends to do (mission, vision, values, respectively). In addition, the information collected in the research phase is compiled and assessed and any additional data needs are identified and summarized. Organizational strengths and weaknesses and external opportunities and threats (SWOT) or challenges (SWOC) are identified in this phase (Berman, 2006, p. 71).

When looking at local economic development it is important to consider the strengths, weaknesses, opportunities, and threats. This is considered a SWOT analysis, and is essential to any strategic planning for business. SWOT analysis’ is used by businesses and investors when considering to start or improve a business. However, SWOT analysis can also be used when planning economic development.

Another approach to strategy development begins with an analysis of external and internal factors, followed by some visioning, then planning. Including in the analysis phase is often a “SWOT,” a thorough examination of internal Strengths and Weaknesses, as well as external Opportunities and Threats. SWOTs are praised for capturing both the positive (strengths and opportunities) and negative (weaknesses, threats); and organizations embrace this approach with the hope of gaining a “balanced” analysis of itself, inside and out (Hetzel and Silbert, 2007).

Primarily, one must consider how to prepare adequately and constructing a strategic thinking and decision-making. Secondly, optimizing a SWOT analysis can also help identify challenges, weaknesses, and threats to an organization. Bryson (2001) stated in order to determine internal strengths and difficulties for the organization to monitor resources (inputs), present strategy (process), and performance (outputs). In alignment with an organization's structure, new opportunities are identified and achieved through short, long-term goals, and integrating a SWOT analysis. The SWOT analysis allows one to explore the organizations, environments opportunities, along with threats, organizational strengths, weaknesses and challenges. Granted, organizational shift and cultural changes within the ARC also has caused for accountability and transparency to emerge, which is also a challenge. However, continual goal setting for the entity will provide thorough guiding principles to overcome challenges and view how future performance plans will fit within the mission of the

And according to (Creative Educational Video Inc & Insight Media (Firm), 2009,) “ SWOT analysis is a strategic planning technique used to help a person or organization identify the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning”. In the strategic plan the Scottsdale, Arizona Police Department states that “ground up process of reflection, evaluation, and new directions that best reflect the agencies mission and vision”. The SWOT The process involved a review of key inputs, Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis, a review of the existing mission and vision statement, brainstorming to identify additional strategies, modification of existing strategies, and prioritization of strategic issues.

An internal assessment analysis named SWOT, which stands for a company 's strengths, weaknesses, opportunities, and threats is conducted (Abraham, 2012). Strengths and weaknesses are the internal aspects of the normal SWOT analysis (Abraham, 2012). They include problems that need to be corrected, deficiencies recognized through a comparison with competitors, or deficiencies relative to recognized strategies such as lacking the resources to grow (Abraham, 2012). An opportunity is a product-market issue (Abraham, 2012). It must include a product or service that is actually offered, to include the existing ones, and a defined customer group at which that product or service is targeted, including the existing ones (Abraham, 2012). Threats are external trends that could have a negative effect on the company (Abraham, 2012).

Directors and staff. The Strategic Planning Committee included seven board members and four staff on the management team. This Committee including several past presidents of the board met twice to reflect on the mission, vision, core operating values and assumptions underlying the organization’s approach to its work. These meetings set the stage for a work session of the full board during which the organization’s strategic direction was defined. The staff helped coordinate the planning process and provided important support and analysis to complete this plan.

When the SWOT analysis is done, it is used as the foundation of objective setting, strategy setting and usage. The SWOT analysis is concentrated upon the most important factors and it is useful in a difficult strategic situation. The strengths are analyzed to reach opportunities and to avoid threats. The search of weaknesses is of importance as it allows the manager to minimize them.

SWOT has been used by countless practitioners, marketing researchers, and is a frequent and popular tool for business marketing and strategy students. Its simplicity and catchy acronym perpetuates its usage in business and beyond as the tool is used to assess alternatives and complex decision situations. In the business arena the grouping of internal and external issues is a frequent starting point for strategic planning. It can be constructed quickly and can benefit from multiple viewpoints as a brainstorming exercise. Typically, managers first consider internal strengths and weaknesses (at the top row of the 2 × 2 grid) which can include image, structure, access to natural resources, capacity and efficiency, and financial

Companies in the global seem themselves operating in an environment that is altering quicker than ever before. The procedure of analyzing the implications of these alters and changing the manner that the company responds to them is known as business strategy. Good performance within a company is the outcome of accurate interaction of business management with its internal and external environment. The identification of internal strengths and weaknesses, in addition to external opportunities and threats, takes place on the basis of a SWOT process. However, in spite of their significance, many companies often just have ambiguous ideas of their competitive strengths and weaknesses, opportunities and threats. Value of the SWOT method lies in evaluating

SWOT Analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favourable and unfavourable to achieving that objective. The technique is credited to Albert Humphrey, who led a research project at Stanford University in the 1960s and 1970s using data from Fortune 500 companies.[1]

SWOT is considered a widely used tool to assist an organisation understand their business activity, both internally and externally. The intent is to not only formulate strategies that support the mission of the organisation but to avoid weaknesses, neutralise the threats and exploit opportunities and strengths. (Davidson et al 2009. P212). SWOT provides the guidelines for critically assessing what you’re doing right, what you’re doing wrong, who or what can take you down, and what you can do to get—and stay—ahead of the pack.

Strategy evaluation should initiate managerial questioning of expectations and assumptions, trigger a review of objectives and values, and stimulate creativity in generating alternatives and formulating criteria of evaluation.

Organizational strengths, weakness, opportunities, and threats (SWOT) analysis is an integral part of the strategic plan that can help put into focus the potential needs and risks that could