Before filling up your OGSM it’s good to analyse the market and explore the best opportunities to make your business succeed.
The SWOT analysis is a planning and decision-making tool that helps you understand the internal and external factors of a situation, this allows you to to improve, innovate or even prevent certain issues.
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.
Strengths: Internal attributes and resources that could make the company successful in the market
Weaknesses: Internal attributes that could create disadvantages. This allows you to recognize what you need to improve.
Basically, the SWOT analysis helps you to understand what you are doing right and what can be improved according to the external factors. This allows you to make the right decisions related to your product and services such as redefining your target, changing the budget or hiring more employees for certain needs that are unfulfilled.
There’s an even more critical way to analize the internal and external factors for your company called POWER SWOT. POWER is an acronym for Personal experience, Order, Weighting, Emphasize detail, and Rank and prioritize. The purpose of this is to take you from the analysis stage to creating strategic actions. 3 bullets only.
© 2022 OGSM Software | All Rights Reserved | Powered by E-Expansion | Privacy policy | Terms & Conditions