Last week, we spoke about our high-level view of Strategy. This week, we start our discussion on the details of SWOT.
At some point in your career, you're going to be asked to put together a strategy session for your organization. This is when most managers start to panic.
But take heart. Probably, your boss does not want you to set strategy for the whole organization. What she wants is for you to come up with a process to help the leadership team determine its strategy. And that's good, because most of us are unlikely to be imminently qualified to be setting strategy.
But how do you set up the process? There are a number of different ways, all of which have various merits. You'll likely ask around and some b-school grads will tell you all about Porter's Five Forces and Blue Ocean and Dear God one hopes Peter Drucker, and etc, etc. But as always, the question comes back to, "what do I do?" The answers you'll get to that question will include some mention of the SWOT Analysis, which stands for Strengths, Weaknesses, Opportunities, and Threats. While SWOT is NOT the complete process, it is a great start to getting a handle on where your organization is and where it might need to go.
In this cast, we'll tell you how to set up a basic SWOT session, the Manager Tools way.