2 D1 - BUS 475 - ORIGINAL WORK - DUE AT 12PM EST (7 HOURS FROM NOW)
santth
electronic_reading_wk_2.docxHOW TO CONDUCT A SWOT ANALYSIS
A SWOT analysis investigates business opportunities by item using strengths, weaknesses, opportunities and threats (SWOT). Individuals mulling over career decisions can use it to form a personal development plan.
Start by thinking about your reasons for carrying out the analysis and what you hope to achieve. Then draw up a table divided into factors that you can control (strengths, weaknesses) and those you can't (opportunities, threats).
Be objective in assessing your weaknesses. Complete this exercise from the perspective of how others see you, eliciting feedback from a mentor or former manager.
A study of opportunities considers where you want to be in five years' time. You may not want to leave your position, but if the long-term career path isn't going to match expectations, it may be time to move on.
Anything that prevents you from achieving a career goal is a threat, whether it's competition for a vacancy or your organization’s lack of financial stability. You may feel you've been doing the same thing for too long, which has implications on your performance.
When you have detailed your analysis points, work out your goals. If further training is required, take steps to acquire it.
If you only do five things...
• Work out what you hope to achieve.
• Allow sufficient time to conduct the analysis properly.
• Be objective at all times.
• Incorporate your findings into an action plan.
• Regularly revisit your findings.
