SWOT analysis For ASQ 904 Pre-Meeting

First, let’s clear this up We’re not going to talk about S.W.A.T. or Special Weapons and Tactics teams. SWOT is defined on the next slide.

What is SWOT It stands for Strengths, Weaknesses, Opportunities, Threats Originated by Albert S. Humphrey in the mid ‘60s Typically Strengths and Weakness are internal to the organization, and Opportunities and Threats are external so it is sometimes called an Internal-External Analysis Used both to formulate strategies and analyze strategies

How to do SWOT Pick a facilitator that can encourage people to think honestly and objectively Start with what you know, in other words focus on internal strengths and weaknesses first May require more than one session as research into external opportunities and threats may be required No particular form is needed, but an example will be loaded on our website

Strengths – starter questions What advantages does our organization/team have? What do we do better than anyone else? What unique or low cost resources do we have that others don’t have? What does the market see as our strengths? What is our unique selling proposition?

Weaknesses – Starter questions What could we improve? What should we avoid? What does the market see as our weaknesses? What parts of our strategy/team could lose us sales or influence? Do we have enough resources?

Credits https://www.mindtools.com/

Opportunities – Starter questions Are there any obvious opportunities? What are current trends and where are they heading? Are there changes in technology that could enable our idea? Are there changes in government regulations that could pose opportunities for our strategy?

Threats – starter questions What is our competition doing? Are quality standards or specifications changing? Is technology changing that could threaten our idea? Is the economy changing, do we have debt or cash flow issues that could threaten this idea?

guidelines Answers to questions should be specific: Our costs are low compared to competition by about 10% of COGS vs we have better profit. Prune out repetitive ideas or overly complex answers in favor of easy to follow and straightforward answers. Apply to the right level: Product level rather than overall company level

Finished product