STRENGTHS, WEAKNESSES, OPPORTUNITIES & THREATS

Today, The Grandma has been reading about labour insertion.  

 

Unemployment, according to the Organisation for Economic Co-operation and Development (OECD), is persons above a specified age not being in paid employment or self-employment but currently available for work during the reference period.

Unemployment can have many sources, such as the following:

-New technologies and inventions

-The status of the economy, which can be influenced by a recession

-Competition caused by globalization and international trade

-Policies of the government

-Regulation and market

The family has been creating personal SWOTs to try to understand themselves better.

More information: Grandma's Reading, Japanese Work Environment

SWOT analysis or SWOT matrix is a strategic planning technique used to help a person or organization identify strengths, weaknesses, opportunities, and threats related to business competition or project planning.

This technique, which operates by peeling back layers of the company is designed for use in the preliminary stages of decision-making processes and can be used as a tool for evaluation of the strategic position of a city or organization. It is intended to specify the objectives of the business venture or project and identify the internal and external factors that are favorable and unfavorable to achieving those objectives.

Users of a SWOT analysis often ask and answer questions to generate meaningful information for each category to make the tool useful and identify their competitive advantage.

SWOT has been described as the tried-and-true tool of strategic analysis, but has also been criticized for its limitations.

SWOT assumes that strengths and weaknesses are frequently internally-related, while opportunities and threats commonly focus are due to the external environment.

The name is an acronym for the four parameters the technique examines:

-Strengths: characteristics of the business or project that give it an advantage over others.

-Weaknesses: characteristics of the business that place the business or project at a disadvantage relative to others.

-Opportunities: elements in the environment that the business or project could exploit to its advantage.

-Threats: elements in the environment that could cause trouble for the business or project.

More information: Improving to Find New Chances

The degree to which the internal environment of the firm matches with the external environment is expressed by the concept of strategic fit. Identification of SWOTs is important because they can inform later steps in planning to achieve the objective.

First, decision-makers should consider whether the objective is attainable, given the SWOTs. If the objective is not attainable, they must select a different objective and repeat the process.

Some authors credit SWOT to Albert Humphrey, who led a convention at the Stanford Research Institute, now SRI International, in the 1960s and 1970s using data from Fortune 500 companies. However, Humphrey himself did not claim the creation of SWOT, and the origins remain obscure.

Internal factors are viewed as strengths or weaknesses depending upon their effect on the organization's objectives.

What may represent strengths with respect to one objective may be weaknesses (distractions, competition) for another objective. The factors may include personnel, finance, manufacturing capabilities, and all of the marketing mix's 4Ps.

External factors include macroeconomics, technological change, legislation, and sociocultural changes, as well as changes in the marketplace. Results are often presented in the form of a matrix.

SWOT analysis is a method of categorization for which lists are compiled, uncritically and without prioritization, rather than seeking important factors to achieving objectives; weak opportunities may appear to balance strong threats.

The SWOT analysis has been used in community work as a tool to identify positive and negative factors within organizations, communities, and the broader society that promote or inhibit successful implementation of social services and social change efforts.

It is used as a preliminary resource, assessing strengths, weaknesses, opportunities, and threats in a community served by a nonprofit or community organization.

Although SWOT analysis is a part of the planning, it will not provide a strategic plan if used by itself, but a SWOT list can becomes a series of recommendations.

More information: Bigg Success (Part I)

Strengths and Weaknesses (internal factors within an organization):

-Human resources-staff, volunteers, board members, target population

-Physical resources-your location, building, equipment

-Financial-grants, funding agencies, other sources of income

-Activities and processes-programs you run, systems you employ

-Past experiences-building blocks for learning and success, your reputation in the community

Opportunities and Threats, external factors stemming from community or societal forces:

-Future trends in your field or the culture

-The economy—local, national, or international

-Funding sources—foundations, donors, legislatures

-Demographics—changes in the age, race, gender, culture of those you serve or in your area

-The physical environment —is your building in a growing part of town? Is the bus company cutting routes?

-Legislation—do new federal requirements make your job harder...or easier?

-Local, national, or international events

Although the SWOT analysis was originally designed as an organizational method for business and industries, it has been replicated in various community work as a tool for identifying external and internal support to combat internal and external opposition.

The SWOT analysis is necessary to provide direction to the next stages of the change process. It has been used by community organizers and community members to further social justice in the context of Social Work practice.

More information: Bigg Success (Part II)

 A SWOT analysis involves asking,

What are our strengths and weaknesses?

What are our opportunities? What are the threats?

Amanda Lang