Join Mike Figliuolo for an in-depth discussion in this video Using the SWOT analysis, part of Strategic Planning Fundamentals.
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- Once you've conducted your SWOT analysis,…it's time to refine it.…You should be looking to synthesize ideas and look for…major themes that emerge from the SWOT analysis.…What I recommend when you do this is first,…let's eliminate things that aren't going to be…major strategic themes.…So looking at our SWOT, we might say that plant safety,…while it's important, is not a major strategic theme.…Nor is, expense reporting or IT desktop support.…
They're important, but they're not strategic.…We look down and say couponing isn't that big of a deal.…And, in our Threats, we say Ohio weather,…while it's important, it's only 2% of our market.…So now we've shortened the list that we can look at…to identify major strategic themes.…As we look at our themes and we look at the items…across the entire SWOT,…perhaps we notice that we have strengths in brands…and supply chain and sales force.…
And then we look over and say well, we have some problems…in our digital marketing program.…There's huge social media growth.…And the economy is a risk.…
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- Avoiding strategic planning risks
- Assessing the market
- Conducting a SWOT analysis
- Defining your direction, mission, and vision
- Determining core competencies
- Evaluating and prioritizing opportunities
- Assessing your initiatives
- Organizing for success