Self SWOT Analysis

SWOT Analysis is a management tool that corporations use to analyse matters concerning resources, capabilities and products. This tool helps them to understand their inherent strengths and weaknesses vis-à-vis the threats and opportunities confronting them, owing to competition and new technologies. So, if organisations can gain so much out of this useful tool, why don’t you use the same to enhance the capabilities of your most valued product ——you, yourself?

Before I brief you on how you can go about the same, let’s spend some time on grasping what a SWOT analysis is all about.
Simply put, it primarily analyses a subject on the following parameters:

Strengths
Your strengths are successful applications of your competencies in a given field or exploitation of a given factor in your personality that enhances your competitive edge or advantage.

Weaknesses
Your weaknesses are unsuccessful applications of your competencies or non-exploitation/non existence of critical factors that could enhance your competitive edge or advantage.

Opportunities
Opportunities are external conditions, which, if seized, could positively impact your critical performance parameters and improve competitive advantage, provided positive action is taken in time.

Threats
Threats are external conditions that could negatively impact your critical performance parameters and diminish your competitive advantage if positive action is not taken in time.

Procedure
The most important steps in an effective SWOT analysis are:

    a)  Brainstorming sessions
b)  Creating an Opportunity / Threat analysis sheet
c)  Creating a Strength / Weakness analysis sheet
d)  Delineating a Performance – Importance matrix
e)  Formulating expert opinion

Described below is a possible way in which you can employ a judicious mix of the above to conduct your own SWOT analysis.

Step 1
Brainstorm and identify the opportunities and threats in your environment, using the definitions provided. Ask yourself, what are your critical performance parameters?

Possibly, good scores in the entrance exams, maintaining a pleasant and confident persona and a good show in the GD / Extemporé / Essay writing / Personal Interview rounds.

You also have to explore the external conditions that could positively or negatively impact your performance parameters. Which external conditions would improve or diminish your competitive advantage? What are the road- blocks to taking a positive action in time?

Some of these could be:

• Available time for preparation
• Availability of right preparation material
• Proximity of the right learning centre to help you with your preparation
• Availability of funds
• Support of family and friends
• Support of colleagues and seniors 
• Supportive study group
• Environment for studies
• Stress levels at work
• Stress levels at college
• Career goals
• Expectations of parents
• Degree of competition in the environment
• Preparation levels of competitors
• Number of seats in good B-schools etc.

Now, create an Opportunity / Threat analysis sheetas illustrated below and, on the sheet,rate each factor from major/minor Opportunity to major/minor Threat. Also assign a probability of occurrence to each factor.

Step 2
Concentrate on your current and past performance (in all spheres of activity) in comparison to standards expected by premier management schools. For example, ask yourself,

• What kind of marks / grades have you secured since high school?
• What is your job profile?
• What are your hobbies and interests?
• What are your extra-curricular achievements?
• What is your idea of fun?
• How do you spend your leisure time?
• Are you a hard / smart worker?
• Do you value time?
• Are you a team worker?
• Do you possess good communication skills?
• Are you honest in your dealings?
• Do you know your subjects well?
• Are you well versed in current affairs?
• How well do you handle stress?
• Are you intrinsically motivated?
• Do you express your feelings clearly?
• Do you internalise failure?
• Do you balance emotions with logic and reality?
• Are you optimistic without losing touch with reality?
• Can you effectively manage anger and impulses?
• Can you read non-verbal signals?
• Are you judgemental and critical?
• Do you possess leadership skills?
• What motivates you?

Now, review competencies that are relevant and brainstorm to identify the various internal factors that influence each competency. Some of these could be

• Physical attributes (height, weight, appearance, body language, etc.)
• Learning capabilities (logical, mathematical, visual, lingual, spatial, aural, etc.)
• Personality traits (pleasant, polite, courteous, stress prone, easy to anger, defensive, energetic, patient, witty, wise, responsible, trustworthy, open-minded, etc.)
• Intelligence quotient (ability to gain and assimilate knowledge)
• Emotional quotient (calm, mature, in control, people centric, empathetic, etc.)
• Punctuality (ability to value own and others’ time)
• Social skills (ability to network, communicate and get along with people)
• Value structure (honest, truthful, moral, upright, just, selfish, giving, trusting etc.)
• Spiritual quotient (positive belief system, faith etc.)

The next thing would be to formulate a Strength/Weakness analysis sheet as follows and rate each competency /incompetency from your Major Strengths to Major Weaknesses. Also assign each factor an importance rating.

Having done that you can now plot each factor on a Performance / Importance matrix:
Factors in cell 1 need to be strengthened critically. Factors in cell 2 are OK and you just need to maintain those. Factors in cell 3 are low priority. Factors in cell 4 point to potential misapplication of resources.

Step 3
We will now finally enter our major strengths, weaknesses, opportunities and threats as derived above into the  SWOT Summary Table:

Once the SWOT review is complete, the future strategy may be readily apparent or, as is more likely the case, a series of strategies or combinations of tactics will suggest themselves. Use the analysis to help identify possible strategies as follows:

1. Build on Strengths.
2. Resolve Weaknesses.
3. Exploit Opportunities.
4. Avoid Threats.

The resulting strategies can then be filtered and moulded to form the basis of a realistic strategic plan.

Do take help, advice and guidance from your mentors, teachers, friends, family and professionals in formulating your strategic plans.

Remember, strengths and weaknesses are inherent in all human beings, but successful people take pride in their strengths, feel positive about overcoming weaknesses, fully exploit the opportunities that present themselves and minimise the threats in the immediate environment. As the saying goes, ‘in life we cannot change the direction in which the wind blows. However, we can adjust the direction of our sails to take advantage of the wind.’ Best of luck in all your endeavours.