Conduct a personal strengths, weaknesses, opportunities, and threats (SWOT) analysis.

Note: Developing a strategic plan requires specific steps that need to be executed in a sequence. The assessments in this course are presented in order and should be completed in sequence.

SHOW LESS

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies:

· Competency 3: Communicate effectively.

. Write coherently to support a central idea in appropriate format with correct grammar, usage, and mechanics.

· Competency 4: Plan strategically.

. Describe strategies to use SWOT analysis to improve competitive advantage.

· Competency 5: Employ high-performance business management techniques.

. Analyze strengths to determine competitive advantages.

. Analyze opportunities that may be leveraged for competitive advantage.

. Analyze threats to competitive advantage.

· Competency 6: Solve problems within professional standards.

. Analyze weaknesses to determine areas for improvement.

Context

The goal of any strengths, weaknesses, opportunities, and threats (SWOT) analysis is to identify the internal and external factors that are key in achieving the objective. Organizations use SWOT as part of the development of the strategies and plans that will help the organization achieve its goals. In this way, a SWOT analysis helps the organization carve a sustainable niche in its market. A SWOT analysis can also be useful in a personal context. It can help you understand and manage your strengths as well as your weaknesses and avoid possible threats that could prevent you from moving forward.

After an organization has completed a SWOT analysis, it will carefully monitor both the internal and external environments to detect signs of opportunities and threats that could affect current and future plans. This environmental scanning can help an organization identify trends that are most likely to affect the industry, thereby allowing the development of a strategy for change. The right information, at the right time, can determine the future of an organization.

Questions to Consider

To deepen your understanding, you are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of the business community.

· How do your strengths compare with those of the people around you? Do you all have similar strengths? When does a strength become a necessity?

· How might a perceived weakness be used to open up new opportunities?