SWOT offers professional managers an effective evaluative technique to aid the decision making process. It identifies, classifies and prioritises issues clearly, highlighting the problem in terms of key underlying issues. Decision makers are then able to find solutions.
Purpose of SWOT analysis:
1. The strategy is to look at the organisation's current performance (strengths and weaknesses) and factors in the external environment (opportunities and threats) that might affect the organisation's future
2. Once the attributes for each section have been identified, the point of balance is determined.
3. Eventually the points of balance (strengths vs weaknesses and opportunities vs threats) can be plotted together.
4. The results will show the optimal direction for progress, building on strengths and opportunities, whilst eliminating weaknesses and threats.
Features of SWOT software:
- Achieve a higher standard of managerial performance by using it to:
- assess a situation and provide a clear formulation of the problem
- compare alternatives
- identify opportunities which can be ‘maximised’ to make the most of the organisations resources
- analyse past failures
- identify/focus on relevant key facts and prioritise issues
- take you through the whole decision making process in an orderly way
- take a complex problem through to a new level of sophistication and professional analysis
- ensure complex ideas are stored and presented logically
- Use SWOT on-line analysis to help you and your team reach the best solution by:
- brainstorming within a multi-user environment
- encouraging decision makers to share and compare ideas
- providing a clearer and common purpose
- understanding factors leading to success
- classifying issues according to time periods
- organising the important factors linked to success and failure in the business world.
- analysing issues that have led to failure in the past
- providing linearity to the decision making process
- allowing complex ideas to be presented systematically.
Spend a bit of time getting used to the SWOT online software as it has lots of hidden functionality. Once you get used to it, you'll love it!
For more information, use the following links:
Access the SWOT Decision Making Software demo here
Access the desktop version here