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Using SWOT as a Strategy Facilitation Tool

Slideshow about Using SWOT as a Strategy Facilitation Tool by Eric Tachibana

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Using SWOT as a Strategy Facilitation Tool

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  1. SWOT using Proper facilitation of swot-tows brainstorming

  2. When used right, SWOT is a powerful brainstorming tool for exploring strategy

  3. Unfortunately, many entrepreneurs don’t know how to use it properly

  4. And in my experience, swot haslost its practical value over the years

  5. Me thinks it is time for a refresher course

  6. A swot starts by looking inwards

  7. It asks what strengths & weaknesses do youbring to the table

  8. But it also considers the externalcontext

  9. It asks what opportunities & threats are impacting you from the outside

  10. Mistake #1 confusing internal capabilities versus external drivers

  11. Let’s look at an example…

  12. Here is a blank swot table STRENGTH WEAKNESS OPPORTUNITIES • THREATS

  13. Draw one of these on some large flip chart paper and tape it to the wall (or just draw on the walls)

  14. have all the members of the team independently(without talking) write single ideas using post-it notes & stick them in the relevant cell

  15. have everyone read as a group, clarifying as required, and merging duplicates

  16. WARNING: In this process, You’ll find some examples of threats & opportunities that are actually internal rather than external, so you’ll need to rephrase them or move those ideas to strength/weakness

  17. WARNING: make sure that everyone has a chance to speak up and that everyone fully understands each idea

  18. You’ll end up with something like this

  19. STRENGTH WEAKNESS Still lack strategic alliances Mature R&D program High key-man risk Unique domain skills in our market Internal politics & bureaucracy Ahead of the competitors by 6-9 months Product-Market fit in new segments Strong existing client relationships Sufficiently sized financial war chest OPPORTUNITIES THREATS Emerging HNW Insurance segment Strong, new entrants Maturity of Mobile / Social / IoT Traditional competitors moving down into our segment Potential regulatory changes Growth in Asia Weak macro-economics High levels of cash holdings in target segment Labour shortage in local market

  20. However, though interesting, there will be no thoughtful prioritization at this stage

  21. Mistake #2 Not prioritizing ideas

  22. As a group you need to prioritize (force-rank) the items in each cell

  23. To do this, use the wisdom-of-crowds

  24. Start by Giving everyone 10 virtual dollars

  25. Ask each person to invest some or all of their $10 into the ideas in each cell based on how important they find the idea (the facilitator can serve as the bookie)

  26. Everyone must spend all their money

  27. You can spend $1 on an idea, or all $10, or anything in between (but remember others are investing too, so spend wisely)

  28. Here is an example of what the output might look like for the Strengths cell, given a team of 5 ($50)

  29. STRENGTH WEAKNESS Still lack strategic alliances Mature R&D program High key-man risk Unique domain skills in our market $14 $6 Internal politics & bureaucracy Ahead of the competitors by 6-9 months Product-Market fit in new segments Strong existing client relationships $1 $25 XXX Sufficiently sized financial war chest $4 OPPORTUNITIES THREATS Emerging HNW Insurance segment Strong, new entrants Maturity of Mobile / Social / IoT Traditional competitors moving down into our segment Potential regulatory changes Growth in Asia Weak macro-economics High levels of cash holdings in target segment Labour shortage in local market

  30. At the end of the exercise, you’ll have group-defined priorities

  31. Go through all cells and re-sort ideas according to the priorities (focus on those that naturally bubbled up based on investment sizes. If you have a large enough team, there will be obvious winners & losers thanks to statistics)

  32. STRENGTH WEAKNESS High key-man risk Product-Market fit in new segments Still lack strategic alliances Internal politics & bureaucracy Strong existing client relationships Unique domain skills Mature R&D program Sufficiently sized financial war chest Mature R&D program Ahead of the competitors OPPORTUNITIES THREATS Emerging HNW Insurance segment Maturity of Mobile / Social / IoT High levels of cash holdings in target segment Growth in Asia Strong, new entrants Traditional competitors moving down into our segment Labour shortage in local market Weak macro-economics Potential regulatory changes

  33. Now it is time to develop actionable SMART objectives using a tows diagram

  34. smart action items are: Specific Measurable achievable Relevant (to strategy) timely

  35. In a tows diagram, you shift the swot cells to the outside of a new grid

  36. WEAKNESS High key-man risk Product-Market fit in new segments STRENGTH Strong existing client relationships Unique domain skills Mature R&D program Sufficiently sized financial war chest OPPORTUNITIES Emerging HNW Insurance segment Maturity of Mobile / Social / IoT • THREATS • Strong, new entrants • Traditional competitors moving down into our segment • Labour shortage in local market

  37. Inside the grid, you are looking to develop SMART action items that leverage the SWOT according to the following rules

  38. WEAKNESS High key-man risk Product-Market fit in new segments STRENGTH Strong existing client relationships Unique domain skills Mature R&D program Sufficiently sized financial war chest OPPORTUNITIES Emerging HNW Insurance segment Maturity of Mobile / Social / IoT SMART ACTIONS TO USE STRENGTHS TO DELIVER OPPORTUNITY SMART ACTIONS TO ENSURE WEAKNESS DOES NOT UNDERMINE OPPORTUNITY • THREATS • Strong, new entrants • Traditional competitors moving down into our segment • Labour shortage in local market SMART ACTIONS TO USE STRENGTHS TO COUNTER THREATS SMART ACTIONS TO ENSURE WEAKNESS DOES NOT HELP MANIFEST THREAT

  39. Mistake 3 Strategy action items must be SMART

  40. Good luck, I hope you find SWOT-TOWS useful as you define and evolve your strategy

  41. SHARE THIS DECK & FOLLOW ME (please-oh-please-oh-please-oh-please) stay up to date with my future slideshare posts http://www.slideshare.net/selenasol/presentations https://twitter.com/eric_tachibana http://www.linkedin.com/pub/eric-tachibana/0/33/b53

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