Search
Related Links

 

 

Informative Articles

Bottleneck-oriented Business Management
Article Title: Bottleneck-oriented Business Management Author: Stephan Szugat Word Count: 1,176 Article URL: http://www.abenetis.com/encyclopedia.html Format: 65 Characters per Line ------------------ ARTICLE START ------------------...
How to Develop a Successful Board of Advisors (...and Why You Should!)
In today’s rapidly changing and highly competitive markets, many privately held companies are creating outside advisory boards to give owners and CEOs fresh, knowledgeable advice. Even for small businesses, setting up an advisory board can give...
JOB TALK--THE HEART OF PRODUCTIVITY
Read the word "productivity" and chances are you envision assembly lines, warehouses stocked with goods, even space-age machinery performing tasks at faster-than-human speed. Or if you are in corporate management, your mind recalls the U.S....
Leadership Development: Turn On Your Employees
The concept of leadership development is not new. Over the last few decades, many scholars and business leaders have written books, articles, and curriculum on this topic. So, why another article? Simply put, the message isn't getting to front...
Survival Without Computers
I was slowed down when my computer crashed and I had no data, no address book and not even my passwords to get back online. I didn't think I was doing anything remarkable by bouncing back to productivity even with this handicap for a week. But...
 
Small Business Q & A: SWOT Analysis Is No Magic 8 Ball

Q: A key investor in my business has suggested that I hire a
consultant to do a SWOT Analysis to help plan for the future.
I try not to argue with my investors, but I'm not so sure I need
to have this done. What do you think?
-- Laurie B.

A: Laurie, before you call in the SWOT team to deal with this
investor (sorry, couldn't resist that one), let me tell you
exactly what a SWOT Analysis is and how it can not only help you
plan for the future, but get a gauge of how your business is
doing today.

SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.
A SWOT Analysis is a written exercise that can help you clarify
and focus on the specifics that make up the four areas that most
affect your business. The purpose of a SWOT Analysis is to help
you build on your business' strengths, minimize and correct the
weaknesses, and take the greatest possible advantage of potential
opportunities while formulating a plan to deal with potential
threats.

Think of a SWOT Analysis as a checkup for your business. By
spending a little time examining the internal and external
factors that affect your business' health you can better gauge
the present state of your business and identify things that may
adversely affect your business' health in the future.

It's a good idea for every business to perform a SWOT Analysis on
occasion, especially if you are doing strategic planning,
contemplating a change in direction or formulating new strategies
for distribution, marketing and sales.

Should you hire a consultant to perform a SWOT Analysis for you?
Speaking as a consultant who has been paid to perform SWOT
Analyses for companies in the past, I can honestly (and yes,
without bias) say that depends on three factors: (1) the size of
your company; (2) how in-depth the SWOT Analysis needs to be; and
(3) how much of your investor's money you'd like to spend.

Larger corporations are most likely to hire professional firms to
perform such analyses, primarily due to the complex nature of big
business. Some corporate SWOT Analyses can run on for several
hundred pages. Typically, a consultant will charge up to $100 or
more per hour to perform a detailed corporate SWOT Analysis and
most large companies consider this money well spent as a good SWOT
Analysis can reveal otherwise ignored factors that might increase
the company's bottom line or help avert future losses.

For a smaller business, however, a professional SWOT Analysis can
be an exercise in overkill. For your money you will get an
impressive, detailed report that will make for great show at your
next investor or board meeting and a wonderfully expensive door
stop the rest of the time. I don't mean to belittle the value of
a professional SWOT Analysis for small businesses. It's just that
smaller companies can learn as much from their own efforts as that
of an expensive consultant.

You can perform a simple SWOT Analysis with a #2 pencil and a fast
food napkin, but to get a truly accurate view of your company's
SWOT factor I suggest you do things a bit more formally (and
without the aid of condiments). I recommend that you involve all
the key players in your business, including management, employees,
your attorney, accountant, even your spouse. My wife often gives
me insights into my business just from listening to me talk at
dinner. Sometimes we business owners and managers can't see the
forest for the trees. It's good to have someone else point out
things we might miss.

Here's how to perform a simple SWOT Analysis. On a piece of paper
draw a vertical line down the center. Now draw a horizontal line
through the center of the page. The paper is now divided into four
quadrants. In the first quadrant (upper left) write the word
"Strengths." In the quadrant next to that write "Weaknesses."
Drop


down to the second tier and label the first quadrant (lower
left) "Opportunities" and the remaining quadrant "Threats."

Now just fill in each quadrant accordingly. Strengths and weaknesses
are internal factors that affect your business. Opportunities and
threats are the external factors. Let's look at a quick overview
of each.

Strengths are those things that make your business stronger.
Strengths might include: a product or service that sells well; an
established customer base; a good reputation in the marketplace;
a good track history; a high traffic location; strong management;
qualified employees; ownership of patents and trademarks; and any
other aspect that adds value to your business and makes it stand
out from the competition. Strengths should always be gauged by
the strengths of your competitors. If your business does
something well just to keep up with the competition, it is not a
strength. It is a necessity.

Weakness are the antitheses of strengths. Weaknesses are those
areas in which your company does not perform well or could stand
improvement. These are the areas of your business that make you
susceptible to negative market forces and aggressive competitors.
Weaknesses might include: poor management; employee problems; lack
of marketing and sales expertise; lack of capital; bad location;
poor products or services; damaged reputation; etc.

Opportunities are those things that have the potential to make
your business stronger, more enduring, and more profitable.
Opportunities might include: new markets becoming available or
old markets that are expanding; possible mergers, acquisitions,
or strategic alliances; a competitor going out of business or
leaving the marketplace, making their customers open to you; and
the potential availability of a desired employee.

Threats are those things that have the potential to adversely
affect your business. Threats might include: changing marketplace
conditions; rising company debt; cash flow problems; a strong
competitor entering your market; competitors with lower prices;
possible laws or taxes that may negatively impact your profits;
and strategic partners going out of business.

Once you have filled in all four quadrants, you can use this
information to create strategies that will help you make the best
of the information learned. For example, once you have identified
your strengths you can better use them to determine which
opportunities to pursue and to help reduce your vulnerability to
potential threats.

Now that you know your weaknesses you can formulate strategies to
overcome them so you can pursue opportunities. Knowing your
weaknesses can also help you establish a defensive plan to
prevent your weaknesses from making your business particularly
susceptible to external threats.

Whether you use a consultant or create a SWOT Analysis on your own
it is important to remember that a SWOT Analysis is a subjective
analysis tool that can be strongly influenced by the opinions of
those performing the analysis. For small businesses especially
it is imperative to keep the analysis simple and to the point.
Don't overanalyze and don't immediately take the results as gospel.

Remember, it's an analysis tool, not a magic 8 ball.

Here's to your success!

Tim Knox
tim@dropshipwholesale.net
For information on starting your own online or eBay business,
visit http://www.dropshipwholesale.net

About the Author

Tim Knox as the president and CEO of two successful technology
companies: B2Secure Inc., a Web-based hiring management software
company; and Digital Graphiti Inc., a software development company.
Tim is also the founder of dropshipwholesale.net, an ebusiness
dedicated to the success of online entrepreneurs.
http://www.dropshipwholesale.net
http://www.smallbusinessqa.com

 

Strategic Planning (in nonprofit or for-profit organizations)
Adapted from the Field Guide to Nonprofit Strategic Planning and Facilitation. ... First, a Point About For-Profit and Nonprofit Strategic Planning ...
www.managementhelp.org
 
Basic Description of Strategic Planning (including key terms to know)
Adapted from the Field Guide to Nonprofit Strategic Planning and Facilitation. ... Strategic planning often includes use of several key terms. ...
www.managementhelp.org
 
Strategic Planning, Strategic Plan, Business Strategy, Strategic ...
Strategic planning advice with free strategic planner & sample strategic plan covering mission statement, SWOT analysis with business plan software for cash ...
www.planware.org
 
Strategic Planning
FAQs regarding strategic planning - geared primarily toward non-profit organizations but with enough detail and general information to provide useful ...
www.allianceonline.org
 
Frequently Asked Questions
Strategic Planning · Fundraising · Financial Management · Risk Management · Credit Card Acceptance. The FAQs (Frequently Asked Questions) listed on this ...
www.allianceonline.org
 
Strategic planning - Wikipedia, the free encyclopedia
Strategic planning involves defining objectives and developing ... Strategic planning uses "the big picture" to pursue large scale, long term objectives. ...
en.wikipedia.org
 
08/26/96 STRATEGIC PLANNING
You guessed it: strategic planning. Suddenly, the idea of rising above the ... But if strategic planning is back with a vengeance, it's also back with a ...
www.businessweek.com
 
Dr. Strategy - Dr. Pete Johnson, Keynote Speaker, Marketing ...
StrategicPlanning.com “Turning Change Into A Competitive Advantage”. Dr. Pete's Preview Video Click Here. Take-Away Value Sample Program Handouts ...
strategicplanning.com
 
Strategic Planning Society: Strategy Development and Implementation
Strategic Planning Society: Strategy Development and Implementation.
www.sps.org.uk
 
Guide 7
Strategic Planning in Smaller Nonprofit Organizations ... In short, as a result of a strategic planning process, an organization will have a clearer idea of ...
www.wmich.edu
 
STRATEGIC PLANNING MANUAL
File Format: PDF/Adobe Acrobat - View as HTML
Your browser may not have a PDF reader available. Google recommends visiting our text version of this document.
 
BPubs.com: Strategic Planning & Business Planning Articles
Business Publications related to Corporate Strategic Planning.
www.bpubs.com
 
Strategic Planning Tools
Strategic Planning is a method for positioning an organization to take ... A strategic planning process incorporates an in-depth planning model that takes ...
www.nsba.org
 
Center for Simplified Strategic Planning, Inc.
The Center for Simplified Strategic Planning offers training, seminars, consulting, speakers, workshops, a book and a newsletter on strategic management for ...
www.cssp.com
 
LEADERSHIP: Strategic Planning and Strategic Management
Introduction: Is strategic planning really worth it? ... The purpose of strategic planning is to encourage thinking about your organization's "big ...
vskn.ca
 
The CEO Refresher Archives - Strategic Planning
When done right, the integrated strategic planning process can take a ... Strategic Planning and Project Management: The Key to Successful Implementation ...
www.refresher.com
 
HEFCE : Publications : 2000 : 00/24 - Strategic planning in higher ...
This guide reviews good practice in strategic planning in higher education (HE). It originated in a consultation exercise which we held in 1998 to review ...
www.hefce.ac.uk
 
The Association for Strategic Planning
The Association for Strategic Planning (ASP), is a non-profit professional society whose mission is to enable people and organizations to succeed through ...
www.strategyplus.org
 
Amazon.com: Strategic Planning for Nonprofit Organizations: A ...
Amazon.com: Strategic Planning for Nonprofit Organizations: A Practical Guide and Workbook: Books: Michael Allison,Jude Kaye by Michael Allison,Jude Kaye.
www.amazon.com
 
Amazon.com: Simplified Strategic Planning: A No-Nonsense Guide for ...
Amazon.com: Simplified Strategic Planning: A No-Nonsense Guide for Busy People Who Want Results Fast!: Books: Robert W. Bradford,Robert W. Bradford,J. Peter ...
www.amazon.com
 
 

 
Content Menu

  • 10 lessons for every shoestring entrepreneur

  • 10 reasons why time and attendance systems are not just substitutes for clock cards

  • 10 tips for managing your time

  • 10 ways to help you plan your home office for productivity and comfort

  • 2005 economic update industry specific 2005 total compensation budget predictions

  • 5 steps to powerful negotiating feature article

  • 5 warning signals your business might have a cash flow problem

  • 6 steps to laying out your competitive strategy

  • 7 essential elements of leading change

  • 8 reasons the holidays are a great time to build your business

  • achieving competitive advantage through collaboration with key customers and suppliers

  • affluent market may disappoint retailers by spending less for december holiday gifts

  • affluent men spend twice as much on holiday gifts for their spouse as women do

  • affluent name recipients of december holiday gifts in new survey

  • affluent turn cautious in outlook for personal spending and the economy

  • attract and retain top talent

  • a cyber staffing solution for small businesses

  • a guide to performance management

  • a real business coach

  • a renewed view of the modern business culture

  • a strategy for success

  • balanced scorecard strategic planning

  • barriers to effective planning

  • being a home based business owner whats not to love

  • being stressed out may not be all that bad

  • best practice benchmarking the path to excellence

  • blueprint for change

  • book summary mind your own business

  • bottleneck oriented business management

  • bridge loans everything you wanted to know

  • building win win alliances

  • build winning alliances

  • business 101 passion before planning

  • business growth through strategic merger and acquisition

  • business intelligence advancements transform corporate decision making

  • business or leisure make sure you get the best stay

  • business planning 101

  • business planning myopia

  • business plans what consultants dont tell you

  • business plan basics

  • business process automation bpa

  • buying a business advice for the first time buyer investor

  • buy now retire later an investment in your dreams

  • cash flow profits and the cash conversion cycle

  • change management can lead to rigidity and resistance to change

  • change may be your ace in the hole

  • chasm of change restructuring the goliath of change

  • choking on itil a menu for success

  • client service as a competitive advantage

  • coaching an adapting tool for attaining fulfillment in the global economy

  • coaching for lawyers 10 ways a lawyer can benefit from working with a professional coach

  • collaboration not competition

  • common sources of financing for small business

  • comparing corporate and personal goal attainment programs that have developed over thousands of years with modern day programs

  • compensation committee 101 what does it do

  • competitive marketing analysis

  • creating a business strategy

  • creating a vision

  • cultivating your pathway to success dont leave your companys future to chance

  • dealing with anger

  • developing your mission

  • develop a successful business foundation second to none

  • discover the coach within you

  • does your culture support or sabotage your strategy

  • dont allow yourself to get burned

  • embrace diversity to build effective teams

  • entrepreneur to employer considerations

  • famous business strategies

  • fatal mistakes to avoid when writing a business plan

  • finding and keeping good people

  • five strategies to strengthen your companys financial management

  • focus on results not money

  • four reasons why small businesses succeed or fail

  • franchises exit strategies

  • franchises whats the exit strategy

  • generating publicity will the media be interested in my product business

  • getting and keeping good people

  • getting together the importance of business relationships

  • have you ever thought of joining or forming a consortium

  • help wanted new business leadership required to jumpstart the american economy

  • home business grants

  • how effective is your leadership style

  • how joint ventures can catapult you to success

  • how not to let powerpoint kill your presentation

  • how to accelerate the return on investment roi of your senior talent

  • how to create a great mentoring relationship

  • how to develop a successful board of advisors and why you should

  • how to develop multiple streams of 100 000 home business income

  • how to easily accelerate your profits

  • how to use graphs and charts in your business plan

  • hr off shoring outsourcing a buyers market

  • human resource communication pays off

  • ideas are free a book summary

  • identifying candidates for leadership

  • if one does not do any planning one is planning to fail

  • improve profitable roe with retention

  • index

  • investing in the czech republic outside of prague part 1 brno property

  • investments short term or long term

  • isg expands to include denovo bank consulting

  • its spring time for a compensation program tune up

  • its time to get all strategic small business marketing stategy

  • i wanna hold your hand first time homebuyers

  • i want to get a mortgage fast online

  • job search lessons from the super bowl

  • job talk the heart of productivity

  • leadership and customer service is there a link

  • leadership development turn on your employees

  • leading with power and authority energize others with deep green leadership

  • learn to manage your projects with project management training software

  • living life in a time starved world

  • lone wolf lead wolf

  • make your mark how to attract clients and grow your business

  • making the most of your year

  • making your item get the best bid on e bay

  • management span of control and the power of models

  • managers have you been shortchanged

  • managers lets call a spade a spade

  • managers should your pr budget stress tactics or strategy

  • managers you know your job but what about public relations

  • managing the human resource project

  • managing transformational change within the public sector

  • managing with vision

  • marketing planning and control systems from agency style to nerve center

  • maybe you should worry about your pr

  • meetings bloody meetings

  • merger and acquisition an engine for corporate growth

  • millionaires name top choices for holiday gift wish list

  • mission and vision statements foundational to successful change

  • new years resolutions for your business

  • non profits need new strategies to weather budget crisis

  • not another ice breaker team building with a purpose

  • oe consultants is there a future for them

  • operational excellence for wholesale distributors

  • performance measures a key to organizational success

  • planning to make a decision

  • plan for business success 6 reasons to succession plan

  • practice on purpose working on your business

  • pragmatic consulting from the clients perspective

  • preparing to be an entrepreneur

  • printing offline

  • professionalizing the family business

  • professional intervention in the family business

  • profit the goal and more than margins

  • pr lets dump the smoke and mirrors

  • public relations a natural phenomenon

  • public relations converting the non believers

  • public relations defining your organization from the inside out

  • public relations power tool for the 21st century

  • quality consulting major consumer products company

  • quick books and finances

  • ready fire aim

  • ready setwait

  • renovations and upgrades bring it to the bank part 2

  • resolve to focus on results in 2006 website results that is

  • rotator

  • rules to setting business goals and objectives why and how to be smart

  • secrets to successful publishing

  • selling your business for the best price

  • selling your technology company why earnouts make sense today

  • sell a business 10 steps to maximize selling price

  • setting goals and implementing change

  • setting you sails the mission statement

  • should you write your own business plan

  • six disciplines for excellence

  • small business planning three myths

  • small business q a swot analysis is no magic 8 ball

  • small business q a the business autopsy a fact of life

  • so you dont have a business plan why not

  • starting a small business is just like running the peachtree only tougher

  • starting your business avoiding the me incorporated syndrome

  • start thinking strategically about your business

  • strategic clarity for communication management

  • strategic internet marketing 5 basic keys to online business success

  • strategic organizational learning

  • strategic planning and consulting

  • strategic planning basics

  • strategic planning for salespeople

  • strategic planning steps for optimum business management

  • strategies to time management

  • succeeding as a seller on e bay

  • succession planning problems getting started

  • succession three tips to ease the transition

  • succss tip business plannning 101

  • survival without computers

  • surviving survival

  • swot analysis is no magic 8 ball

  • swot analysis strengths weaknesses opportunities and threats

  • tactical hints for succession planning

  • tales from the corporate frontlines try try again

  • temporary staffing agency how to start

  • ten tips for creating a terrific employee appraisal system

  • ten ways to sharpen your business edge

  • the 7 traits of an exceptional and successful entrepreneur

  • the 7 traits of an exceptional successful entrepreneur

  • the art of succession planning

  • the business autopsy a fact of life

  • the case of the vanishing technology

  • the challenges of human resource management

  • the collapse of enron

  • the crisis of modernity

  • the dos and donts of creating business partnerships

  • the five biggest mistakes an hr professional can make from the clients perspective

  • the inferno of the finance director

  • the magic and mystery of teams

  • the project management mindset

  • the role of the business model and strategy for business

  • the ten pillars of leadership and business development

  • the three factors of leadership motivation

  • thoughtleading the art of separating yourself from the pack

  • three planning myths

  • three steps to give your strategic plan traction

  • time management is a work of art

  • tips to maximize the sale of your business

  • top tips for effective time management

  • to all managers how does add affect your workplace

  • trade show exhibit booth 7 tips to improve yours

  • trade show victory

  • trend setting how office art improves productivity

  • understanding financial statements when approaching lenders

  • useful tips for evaluating your meeting venue options

  • what are we teaching pr students

  • what could macedonia learn from a tiger the asian tigers and the phenomenon of uninterrupted economic growth

  • what if peter drucker were your ceo

  • what is a trainer what is a facilitator

  • what is google adsense

  • what to consider before approaching lenders

  • what your home based business plan can do for you

  • what you must do for one whole day every week for your business

  • when and where the affluent shop for december holiday gifts

  • when tactics are not enough

  • who do you talk to

  • why bother with customer centricity

  • why have a mortgage coach

  • why just the right ppc campaign management brings in lots and lots of cash

  • writing a business plan

  • your 7 minute mba

  • your business or your life why not both

  • your online fortune is just a click away