Ldg W/ Wisdom, Vision & Value

3.3 Assignment. Creating a Strategic Plan, Part 3 - Creating a SWOTT Analysis

Getting Started

The next step in building your strategic plan is to conduct a SWOTT Analysis. This tool has been widely used by organizations for over 50 years and has stood the test of time as a valuable resource. SWOTT stands for Strengths, Weaknesses, Opportunities, Threats, and Trends. The Strengths and Weaknesses portions of the analysis require an internal examination of the organization, while Opportunities and Threats focus on external (think competitors, for example) factors. The Trends section serves to guide the analysis toward considerations that may influence how the organization can better use the data to make decisions.

As you engage with this assignment, keep these couple of insights (Kareh, 2019) in mind to help ensure that you compile a good SWOTT Analysis include the following:

1. Be specific – If the process seems a little overwhelming, narrow the scope of your analysis to focus on strengths and weaknesses as they would be viewed by the target audience (such as the customer base) of the organization.

2. Conduct your assessment while being mindful of the competition – When identifying internal organizational strengths, keep in mind how those strengths may compare to the competition.

While you may not have access to the entirety of information that exists for your chosen organization, do your best to thoughtfully and strategically consider each of the five components of this analysis. When you find yourself needing to make assumptions, that is reasonable and acceptable. Informed assumptions are not unusual in conducting a SWOTT Analysis.

( Image transcript (Word document) )

Upon successful completion of this assignment, you will be able to:

· Create a SWOTT Analysis for your organization.

Background Information

Instructions

1. Review the rubric to make sure you understand the criteria for earning your grade.

2. View the YouTube video: Professor Ira's Marketing Minute about the SWOTT Analysis. 

3. Review the article  How to SWOTT Your Way to Success (new tab) .

4. Read the article  SWOTT Away Distractions With Successful Analysis (new tab) .

5. This assignment represents the third component of several you will complete over the coming weeks, each of which will contribute to the building of a strategic plan, your Course Project due in Week 6.

6. For the organization you chose during Workshop #1, use the knowledge you gained in reading and viewing the assigned materials this week to conduct a SWOTT Analysis.

7. Your written assignment must begin with the short description of your chosen organization from Assignment #1.5. Then, use the  SWOTT Analysis template (Word document)  to thoughtfully fill out each of the five columns as they relate to your chosen organization. Finally, include a closing paragraph that provides rationale and insights for your analysis. An  example of the SWOTT Analysis template (Word document)  is provided.

8. This assignment should consist of 2 to 3 pages, not including the title and reference pages.

9. A minimum of 2 sources other than assigned materials are required to help better inform your SWOTT Analysis.