Written by Jack Ruddenklau
A SWOT analysis examines a business's strengths, weaknesses, opportunities, and threats. It is often used to analyse and assess business’s products, services, performance, competition or even consequences in the case of a change initiative. Opportunities and threats typically can be both internal and external. While strengths and weaknesses arise within the business as internal elements. The analysis is divided into a four-square grid.
Change is not an easy task, especially the larger organisations. SWOT helps leaders compare and understand the impact of change on the business as they prepare for the new way of working.
A SWOT analysis is often used to help captivate people within a business to acknowledge that change is needed. But it can go much further than this, as it can be used to recognise what is preventing a change initiative, already in progress, from reaching its goals (like the Forcefield Analysis). To ensure a transparent, impartial, and positive approach which avoids the fear of change, it is critical consulting with employees and key stakeholders in the completion of the SWOT analysis.
You will need the change team and key stakeholders (identified in the Stakeholder Analysis) ready to complete the SWOT analysis, a change initiative could be in progress already, or you can use the template to identify a new initiative. It is important to ensure the SWOT is completed by people representing all the business areas for an unbiased opinion. The SWOT analysis can be completed to compliment or replace:
Strengths is the first element of the SWOT analysis. The element determines what strengths are within a business. By asking the questions below, you may be able to decide on some strengths to add into the template:
The questions above give a great starting point for identifying Strengths within your business. The change team will be able to develop more as they start going through each element of the SWOT analysis.
The second element helps identifies your businesses weaknesses, here are a few questions to get you started:
The Strengths and Weaknesses are often the easier ones to identify, as these tend to be internal elements. Opportunities and Threats are usually external, but sometimes these can be internal.
Use the following questions to help the change team identify Opportunities:
Coming up with Threats are typically easier to find than opportunities, you would of likely found threats by asking the questions about opportunities as the threat is there and coincides with opportunities.
Often by identifying the Threats and Opportunities you identify an overlap. If an overlap is identified it is an opportunity to further develop your business, you can reduce the Threat and further harness the Opportunity.
Once the SWOT analysis has been completed and the majority agree with the assessment elements, act on what the analysis has found.
Every analysis is different, so this article does not detail how to act on the analysis. Focus on. It’s about seeing the threats, opportunities and actions which can be improved or changed and then converting those into strengths for the change initiative.
The image below has examples of different elements which may be identified in the template you can use for the analysis.
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