A great strategic planning tool used in business for analyzing an environment for a new project is the SWOT analysis: Strengths, Weaknesses, Opportunities, and Threats. Business planners know that in order for a project to be successful, they need to scope the playing field to determine what resources to allocate, what challenges will be faced, and what outside support is going to be required.
Although the SWOT analysis is generally associated with business, you can apply it in nearly every endeavor you undertake. From strategic planning in your organization to determining what new projects your son’s Boy Scout Pack will undertake to analyzing your personal-professional aspirations. The reason the tool is so effective is that it focuses your thinking on the key factors that spell success for any project. Doing this highlights the internal (strengths, weaknesses) and external (opportunities, threats) factors involved and in so doing, eliminates risk through awareness.
You can employ the SWOT analysis on your objectives by: [Read more…] about Analyzing Your Objectives by Applying SWOT