Perhaps you have a new CEO, your company is rapidly expanding, or departments are being restructured—a SWOT analysis can provide insights to help you manage transitions and adjustments.
When external market conditions change: new competitors, changing economic conditions, regulations and other changes in the market can require companies to think about it. A SWOT analysis can help you stay on track and ready to face the challenges ahead.
Before Strategic Planning: Strategic planning often involves new initiatives and colombia email list changes in resource allocation. Before you begin the planning process, it is helpful to understand the current conditions of your company or team so you can make forward-looking decisions.
Regularly: While most companies do strategic planning every few years, it doesn’t hurt to do a SWOT analysis more regularly. A quick SWOT analysis on a quarterly or semi-annual basis will provide you with information that you can use in the short term and feed into your strategic planning process when the time comes.
Now that we’ve covered what a SWOT analysis is and when it might be useful to do one, let’s dive deeper into the process of doing a SWOT analysis by focusing on each quadrant.
When internal conditions in your company change
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