SWOT Analysis Explained Step by Step

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SWOT Analysis is explained in this video with a step-by-step guide and some tips to be effective. • ___________ • 👉 Optimize your production with our Lean Bulk! • Resources, checklists, and templates to excel in Lean Manufacturing. • Discover more now! https://www.leanvlog.com/leanbulk/ • ___________ • ✅ Download the PDF on SWOT Analysis here: https://www.leanvlog.com/swot-analysi... • The video is all about swot diagram information but also try to cover the following subject: • How to do a SWOT analysis • SWOT analysis example • SWOT matrix • • ✏️ Here is the transcript of the video: • ▶ I am going to explain how to conduct a SWOT analysis step by step. • SWOT Analysis is a key tool to develop a strategic plan. • SWOT is the acronyms for: • Strengths. • Weaknesses. • Opportunities. • Threats. • Normally, Strengths and Weaknesses are labeled as internal factors. • Opportunities and Threats are labeled as external factors. • The shape I love the most for the SWOT Diagram is made by 4 blocks with the title inside each of them. • By a SWOT analysis, the team can decide if it is time to start a project by visualizing the pros and cons. • Then, can be used for: • Explore new solutions to problems. • Align the team to the most effective solution. • Enable a structured brainstorming. • • ▶ SWOT Analysis Steps • The step number 1, is to set a meeting with the team, with a clear description of the project you want to evaluate. • The step number 2, is to take a big piece of paper, and draw 4 blocks with the titles inside. • The step number 3, is to fill the square of the strengths. • Ask the team the right questions as: • What do we do at an extraordinary level? • What valuable assets do we have? • What we and our customer identify as our main strengths? • The step number 4, is to fill the square of the weaknesses. • Ask the team the questions as: • What we could do better? • What could cause us problems? • What are the last complaints we received? • Remember in this step to be transparent and candid. • Taiichi Ohno used to say: To have no problems is the biggest problem at all! • The step number 5, is focused on opportunities. • Here the questions are: • What opportunities we know we can catch? • There are some trends we are ready to get? • The step number 6, is focused on Threats. • Ask the team the questions as: • What could block our progress? • Are our weaknesses potentially critical? • Are economic conditions affecting our financial viability? • Remember the step 1 of the clear objective. • What is a strength for a project could be a weakness for another. So, be accurate and not too generic. • On the other side, remember the problems can easily become an opportunity. • • ▶ What is next? • At the end of the SWOT analysis, an action plan is more than welcome and a follow up as to be set by the manager. • I suggest having the SWOT analysis on the paper always visible to the team to be discussed and revised. • • ▶ Conclusions • The SWOT analysis is a collaborative tool, that has to be used regularly, to evaluate the pros and cons of starting a project. • It is a tool to be used in team, and helps to be aligned to a common vision. • SWOT analysis is a key tool to develop a business strategy. • If you want 1 PDF with all the videos I suggest on SWOT Analysis, just click the link below. • If you loved this video, please share, like or subscribe. Thank you for watching. • • ツ CONNECT WITH ME ツ • Hi, • my name is Mark Anderson a 20+ year Lean Expert. • I have created LeanVlog because I want to spread Lean Thinking worldwide and I think the video is the most effective way to teach, learn, and spread knowledge. • If you want to stay in touch with me you can choose the channel you prefer. • A) Let us connect on Linkedin • / mark-anderson-leanvlog • B) Meet on Facebook • • Facebook: / leanlab-146290372099121 • C) Latest Videos and Playlist • • Website: https://www.leanvlog.com • D) 2 Videos Every Week • • Telegram Channel: https://t.me/leanvlog • #LeanVlog #SWOT_Analysis #SWOT_Analysis_Explained

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