mba 5101 Unit II Mini Project
nasarb
swot.docxSection:
career wise
get on and get ahead A weekly guide to developing essential skills and where to find key resources
A SWOT analysis is one of several business planning tools that an organisation can use to examine its state of health and investigate business opportunities by itemising its strengths, weaknesses, opportunities and threats (SWOT). It can also be used on a personal basis in a variety of career applications.
Whether you're mulling over a major career change or have your sights set on becoming an HR director in a top five legal firm, carrying out a SWOT analysis will give an in-depth focus on areas that need attention as well as provide a footing for a personal development or career action plan.
If you're in the position of having several job offers it could also help determine which organisation offers the most prospects and fits with your way of working. In a wider departmental context, a SWOT analysis could be used to help improve performance, or evaluate the potential outcome of a new initiative.
Even if you think that your career is progressing as intended, carrying out the exercise could prevent you from resting on your laurels.
Every aspect of a SWOT analysis needs to be approached methodically. Think about your reasons for carrying out the analysis and what you hope to achieve. Then with headings for each category drawn up in a table divided into factors that you can control (strengths, weaknesses) and those you can't (opportunities, threats), set to work on your list. The following are just a few of a wide range of considerations you'll need to take into account when conducting a personal SWOT exercise.
Determining your skills, experience and capabilities is probably the most straightforward part of this exercise. List tasks you are good at and enjoy doing as this will form the basis from which to build competitive advantage. What skills do you have that employers want? Work experience, qualifications and training, and transferable skills will figure largely here. Personal development programmes (PDPs) and performance reviews can be effective in tracing new skills that you've obtained. Consider your working relationships — good relationships with your manager or colleagues are a plus.
Remember that what may be seen as a strength in one organisation could be a weakness in another. Aspects of your private life such as solid, stable family situation, ability to relocate, financial security and good health will also come into play.
Because of their career-limiting potential, you need to be brutally honest and entirely objective in any assessment of your downsides. A sketchy and intermittent career path, for instance, will require plausible and convincing explanations, while financial insecurity could place a huge emphasis on the need to increase your salary. Also, try to do this part of the exercise from the perspective of how others see you — ideally elicit feedback from a mentor or current or previous managers.
What do you want to be doing in three or five years' time? Are there aspects of your role or even side interests that could be taken further? Have you considered an HR specialism, such as compensation and benefits, or is there an opportunity to get more project management experience under your belt? Can you network across departments to find the fresh challenge you're seeking?
You may not want to leave the function, but if the long-term career path isn't going to match expectations, maybe it's time to consider consultancy work? Alternatively, is there a hobby that presents an alternative career path? Consider how best to relate your strengths to the opportunities available.
Anything that prevents you from achieving a career goal is a threat. This could range from intense competition for a job you wish to go for to your organisation's lack of financial stability and the attendant risk of downsizing. You may even feel that you've been doing the same thing for too long which has implications for your performance.
When you have detailed your SWOT analysis points, work out your individual goals and objectives. If it indicates that to reach the next rung on the career ladder further training or qualifications are required, build in the necessary steps to acquire them.
Conducting a group SWOT analysis
If the SWOT analysis involves more than one participant, it will be more fruitful if you brief those involved to do some thinking about the analysis beforehand. This gives the time to do any necessary background research and/or elicit feedback that could bring added value to the brainstorming session. Remind them that they should think from the perspective of key stakeholders. Also stress that they should consider existing and future strengths, weaknesses, opportunities and threats.
1 Work out what you hope to achieve
· 2 Allow sufficient time to conduct the analysis properly
· 3 Be objective at all times
· 4 Incorporate your findings into an action plan
· 5 Regularly revisit your findings
PHOTO (COLOR): A SWOT analysis can provide in-depth focus on areas that need attention
~~~~~~~~
By Scott Beagrie
Edited by Martin Couzins
