SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats. The concept is an oldie, but goody and is an opportunity for leaders to examine aspects of an organization, individual team or department. Example characteristics include:
- Strengths—strong team, strong market presence, quick delivery
- Weaknesses—limited new product development, slow response to problems
- Opportunities—up-sell to current clients, sponsorship of industry trade show
- Threats—New product line from competitor
One of the best ways to increase corporate commitment is to increase team member involvement. And a SWOT analysis is a good starting point. Most organizations have an incredible amount of brain power that isn’t tapped often enough. Instead of checking in with team members once a year, try doing so quarterly. And instead of the typical employee survey, have departments lead a SWOT analysis and see what transpires. This is especially important in this day and age with the fluctuating retail markets and ever-changing team member personal priorities. After each department has completed a team SWOT analysis and pinpointed possible changes, compile the information for a cross-functional analysis. This process will produce a wealth of information for a master brain-storming activity.
As changes take place people will feel more connected to the new processes or new organizational direction. They will also better understand the “why’s” of the changes implemented. This process is a win-win for team members and organizations.