So you’re probably wondering what is this SWOT Team you speak of? It was a scary moment that I faced about 5 years ago while working in the healthcare field of an Admin office. Okay, this doesn't have anything to do with the SWAT team that you may know as the elite police marksmen and in reality the two are entirely different all together.
I’m not going to lie, I was confused and nervous when our accrediting body auditor asked me if I’ve performed a SWOT Analysis ... as if you could hear a pin drop in the room. Me knowing very well that I had no idea what this thing was and having to deal with the embarrassment of the unknown. So, after the room cleared, I Googled the term as fast as I could to fill the void that took over my stomach. OH MY GOSH! It was so much easier than I could have imagined and why didn't I know about this?
To let you in on the history behind it, this term came from a Stanford University research leader, Albert Humphrey, in the 1960s as the SWOT Analysis(after some fine tuning with the acronym). This is the process of a business‘s strategic planning tool which helps to identify why corporate planning failed. This acronym, is broken down into a quadrant of Strengths, Weaknesses, Opportunities, and Threats. However, this used alone is not sufficient, you must also plan through the following stages:
FOLLOW THESE FOR A FULL UNDERSTANDING
What are your GOALS/objectives?
Perform the SWOT review itself,
Choose your HIGHEST PRIORITIES on each list and then,
TAKE ACTION by creating a strategy on how to achieve these goals.
If you're looking to get a better understanding of your business and how to achieve your business goals, this is a great tool to use with one or more people from your staff or team. Hence, why I termed it the SWOT team.
Well that sounds easy enough, right? Now that you know how this super tool works, what are you going to do with it? Personally, this is one of the simplest tools I‘ve came across that can deliver an extremely valuable impact on a business, however, it's only as good as the actions that follow it.
Seriously, take 10-15 minutes to get started and use the pdf I created for you below, grab your favorite writing utensil, find a zone where you can focus and get serious. TRUST ME, your professional and organized self will thank you later! Take this information and GROW!
“When you realize your business performance isn't where you want it to be, just SWOT it!” - Heather Arcay
I've created this simple template for you to utilize. If you need more information on how to complete this process, visit Google for SWOT examples.