Doing a SWOT analysis is both simple and hard. The simple part is identifying the 4 components. The hard part is using the SWOT analysis.

How to do a SWOT analysis on a company? Gather your senior executives as part of a strategic planning process. Discuss these 4 components. Then ask the executives and staff to research these 4 components in greater detail. Then reconvene to revise the 4 components.

Strengths .

• What parts of your processes, people, equipment, location, technology make you a strong competitor in the marketplace?
• How will these strengths make you successful?

Weaknesses

• Which functions, people, processes, location, equipment, technology are the weak points in your organization?
• How do they make you weak?
• What can you do to overcomes these weaknesses?
• If you don't overcome these weaknesses, what impact will this have on your organization?

Opportunities

• Where do you see opportunities in the marketplace?
• Which of these opportunities make the most sense for your organization?
• How can you take advantage of these opportunities?

Threats

• What are the biggest threats to your organization?
• Technology
• Employee Turnover and retirements
• Equipment cost and obsolescence
• Alternate products and services
• Changing trends
• Population shifts
• Cultural shifts

How to conduct a SWOT analysis is best done casually but intensely. how to perform a SWOT analysis with research of the marketplace including competitors and alternate products and services and changing trends. How to complete a SWOT analysis for a business is best done with outside help that is not bias and does not have preconceived notions. The outside person needs to understand the SWOT process and guide the  management team rather than being required to have industry experience. The outside person focuses on the SWOT process so you can focus on using the SWOT analysis.

Call John Antos, Maurice Greaver, or Steve Peacock at 972-980-7407 to find out we can help you create value with a great Strategic Plan