An often overlooked ingredient to identifying business priorities
You might be surprised to know that many businesses have never conducted a SWOT Analysis, or have not done one for a long time. Is your business one of them?
SWOT Analysis is an important input to business strategy and business planning. Often, it is more important as a tool to identify short term operational priorities and quickly improve the performance of an organisation or team.
A SWOT Analysis = Speed + Low Cost + Engagement – Possible Rigor
A SWOT is quick, simple and easy to conduct. It is typically performed in a brainstorming session. A major benefit of the process is the speed with which you can engage key people and get their knowledge and ideas. The disadvantage can be a lack of rigor.