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Issue 15: Decision-Making with the SWOT Analysis
Issue 15: Decision-Making with the SWOT Analysis
"Strengths do not come from physical capacity. They come from an indomitable will."
-Mahatma Gandhi
Welcome to our our fifteenth edition!
This issue introduces the SWOT Analysis for strategic decision-making, a technique to identify Strengths, Weaknesses, Opportunities, and Threats related to a business decision or project.
5-MINUTE STRATEGY
Draw a SWOT Analysis matrix.
Strengths - What are you doing well? What sets you apart? What are your good qualities?
Weaknesses - Where do you need to improve? Are resources adequate? What do others do better than you?
Opportunities - What are your goals? Are demands shifting? How can it be improved?
Threats - What are the blockers you're facing? What are factors outside of your control?
List your project's or decision's Strengths, Weaknesses, Opportunities, and Threats in their respective quadrants, addressing the sample questions in the image above.
Analyze how you can use your strengths to seize opportunities and counter threats. Consider how to mitigate weaknesses.
Decide your next steps based on this analysis.
Why this matters: SWOT Analysis provides a clear framework for evaluating a situation from multiple perspectives, helping you make more informed decisions.
Next week's preview
Next, we’ll introduce the Decision Matrix method, a quantitative approach to making complex decisions. This framework helps you break down your options and assess them against various criteria to ensure you make the best choice.
Until then,
Asia
Bridgewell LLC - Strategy and Leadership