The classic SWOT analysis is a relevant part of the initial strategic planning process. Learn how to assess your strengths, weaknesses, opportunities, and threats to your organization's mission.
- Another tool you can use to assess the environment … you're competing in is called the SWOT analysis. … And SWOT stands for Strengths, Weaknesses, … Opportunities, and Threats. … And typically, it's drawn on a grid. … For strengths and weaknesses, … those are typically within your own organization, … capabilities you have or don't have. … As far as opportunities and threats, … they can either be internal or external … market-facing opportunities and threats. … So let me walk through an example. … As you build a SWOT analysis, … you'll want to have the team together … and have people throw out their ideas. … And it's generally a brainstorming session. … So perhaps we start our SWOT analysis … and we look at our strengths. … And our strengths consist of the brands we have, … how efficient our supply chain is, … the strength of our sales force … and how well they sell our products, … safety within our manufacturing plants, … our recruiting information technology, … and maybe our financial position. …
Author
Mike Figliuolo
Updated
1/14/2020Released
5/12/2015- Define the principles of strategic planning.
- Identify forces used to assess the market.
- Explain how to conduct a SWOT analysis.
- Articulate how to establish guiding principles and set goals.
- Explain what strategic filters are used for.
- Describe the steps of a strategic planning process.
Skill Level Intermediate
Duration
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Introduction
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Strategic planning1m 6s
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1. Before You Begin Planning
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2. Defining the Strategic Environment
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Assessing the market3m 21s
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3. Setting Your Strategic Direction
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Defining the direction2m 25s
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Creating a misison statement1m 35s
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Guiding principles and goals4m 30s
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4. Determining How You'll Compete
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5. Evaluating and Prioritizing Opportunities
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Creating strategic filters3m 23s
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Applying strategic filters2m 44s
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6. Assessing Your Initiative Portfolio
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Applying the 2x2 matrix2m 56s
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7. Organizing for Success
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Planning resources2m 17s
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Accountability2m 3s
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Conclusion
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Strategic planning pitfalls3m 34s
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Next steps1m 25s
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Video: Conducting a SWOT analysis