SWOT Analysis

SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture.

The what's next? process for creating a winning competitive strategy

Parent Category: Small Business
Created on Thursday, 12 August 2010 08:14
Published Date

By Dr. Dan Herman

The old customary procedure of strategy development has a pure and sound logic. It has been designed in order to answer the question: What is it that we should do in order to achieve our goals?

The process essentially involves three stages:

1. Where are we now?
2. Where do we want to be?
3. How are we to get there?

This process is based on Gap Analysis. Supposedly, the competitor who will manage to execute it better and wiser (and will also carry out the strategy with consistence and persistence) will be the one who achieves the competitive advantage over the rest of the market.

I claim that this time honored process is no longer adequate.

 

Is your company underachieving because you set goals before mapping opportunities?

Parent Category: Small Business
Created on Thursday, 12 August 2010 07:59
Published Date

By Dr. Dan Herman

During your annual planning ritual - do you study and analyze the current situation in your market and then move on straight to setting your goals? Thought so. Common practice but a big mistake! Chances are that your goals are far less ambitious than they should have been and consequently, so are your financial results and growth rate.

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