Analysis to assess internal strengths and weaknesses and external opportunities and threats
SWOT Analysis is often used early in the business planning process to help identify and assess:
Strengths of the organisation (internal)
Weaknesses of the organisation (internal)
Opportunities in the environment (external); and
Threats in the environment (external)
An internal audit of strengths and weaknesses can best be undertaken using a MAPSCARE Analysis.
An external audit of opportunities and threats can best be undertaken using an ICEDRIPSTM Analysis.
Strategy is then formulated by matching the business strengths to opportunities in the environment, whilst avoiding the threats and weaknesses.
Note: This web page is not intended to provide comprehensive coverage of the subject, merely a brief introduction to provoke thought and to lead to a more in depth understanding and application of the topic, either through further reading - or from me as your management consultant, executive trainer or personal coach in a consultancy project, training course, workshop or seminar.