SWOT Analysis - A Key to Success

The world we live in has changed drastically in the recent years; both in building and in destroying the human lives. We too are a part of it either the former or the latter. “The two most important days are the day you are born and the day you find out why?” says Mark Twain. But how many of us are truly finding the latter part? Not many. Just imagine how our life would be if compared to a journey. Travelling with all green signals, without any hurdles will make our journey swift, but not in safe hands. To travel safe, we need few red signals, few speed breakers on the way. Yes, we live our life as if there is no death at all. We do things without knowing the sole purpose.
We all are aware of the three magical words, I would call it a review of life: SEE JUDGE ACT. But to make it more effective in our lives we are in need of the fourth one, i.e. to EVALUATE. It’s always good to evaluate after conducting a program, after receiving our marks in examination, after receiving a peace of mind from our parents, even after making a mistake. Evaluation helps us to know where we are and to learn and correct from our past and wrong doings. Great minds always use evaluation as an essential key to success.

Though there are humpty number of ways to evaluate oneself, SWOT analysis always comes first. The word “SWOT” where ‘S’ stands for Strength, ‘W’ for weaknesses, ‘O’ for opportunities and ‘T’ for Threats. It is a simple way to focus aspects of the company and oneself to organize the findings to evaluate the current status of the individual or a group, its future prospects and the situation.

SWOT analysis is a key component in strategic planning. The analysis subjectively evaluates the impact of internal and external factors in an individual or a group. Internal processes and resources are considered strengths and weaknesses (S and W, respectively). External factors affecting the individual and group are considered opportunities and threats (O and T, respectively). An evaluation of these factors develops a strategic perspective to evaluate our position in this competitive world. The factors in the SWOT analysis should reflect the actual internal status of the individual and one’s future vision and must derive an action plan.

Strategy should not be based solely on a SWOT analysis. The value of a SWOT analysis is to prepare a snapshot of the current situation and to identify the areas that can be improved, internally. Preparing a SWOT analysis is not complicated; it should be revisited on a regular basis to evaluate ourselves to travel further in the right track towards a new society. Try this friends- It will definitely change your life!

Given below is a simple SWOT analysis model. Please make use of it. You can add more questions if you wish. Using it regularly will change your life style.

Strengths What do you do well? What unique resources can you draw on? What do others see as your strengths?	Weaknesses What could you improve? Where do you have fewer resources than others? What are others likely to see as weaknesses?
Opportunities What opportunities are open to you? What trends could you advantage of? How can you turn your strengths into opportunities?	Threats What threats could harm you? What is your competition doing? What threats do your weaknesses expose you to?