SWOT Teacher

Welcome to SWOT Teacher! SWOT analysis is an essential analytical tool that Business Analysts utilize on daily basis.

Here you will learn the following:

1. Differentiate between Strengths, Weaknesses, Opportunities and Threats.

2. Identify each of the Strengths, Weaknesses, Opportunities & Threats of a given scenario in order to complete a SWOT table. 

Step 1 - What is a SWOT Analysis?

What are you here for?

What, when & why SWOT? This will help you find out how an organisation might benefit from a SWOT analysis

This is a short video to explain what the SWOT analysis is:

 

What is a SWOT Analysis?

The SWOT Analysis is an acronym for Strengths, Weaknesses, Threats and Opportunities Analysis. It is an enterprise level analysis technique of assessing an organization against these four dimensions. It ultimately drives decision making for changes and improvements to an organizations position in the market. It is important to note that the SWOT Analysis in itself sounds simple (and can be applied in a fairly straight forward way) but each dimension (Strengths, Weaknesses, Threats and Opportunities) has it’s own set of Techniques which can be applied to determine the outcome of each dimension.

When is the SWOT Analysis applied?

The SWOT Analysis is in most cases applied as an Enterprise Level Analysis activity outside of the Project Environment. This means it can occur at any stage when an organization, department or unit needs to re-assess their internal and external environment in order to re-establish direction and strategy.

This Business Analysis Technique can also be applied in other types of situations when it is important to assess a group, function or even individual people against these dimensions.

Why is the SWOT Analysis so popular?

The SWOT Analysis is so popular because it is a simple technique to apply in either a quick and straightforward way or in an in-depth analysis of an organization or situation. It is therefore versatile as an analysis technique. It is also a technique, which is applied across many different business areas and is not limited to being an exclusive Business Analysis Technique. This means a lot of people are very familiar with what this technique means and hence makes this technique even more popular.

Source:

SWOT analysis

Choose the best picture that explains SWOT analysis

A SWOT Analysis is not to prove the organisation is doing well. It is to assist the organisation with the strategic direction. A SWOT analysis is performed after gathering relevant facts in order to establish the strategy of the organisation to achieve its vision.

You can browse the following website to expand your knowledge about why to use a S.W.O.T analysis.

http://blog.cayenneapps.com/tag/business-swot-analysis/

Select an Image which describes when is it best to use a SWOT analysis

Step 2 - How to identify Strengths and Weaknesses?

How to identify Strengths?

LISTING YOUR INTERNAL FACTORS: STRENGTHS AND WEAKNESSES (S, W)

Internal factors include your resources and experiences. General areas to consider:

  • Human resources - staff, volunteers, board members, target population
  • Physical resources - your location, building, equipment 
  • Financial - grants, funding agencies, other sources of income
  • Activities and processes - programs you run, systems you employ
  • Past experiences - building blocks for learning and success, your reputation in the community

The following is the source, and you can also access it to expand your knowledge on Stengths:

http://ctb.ku.edu/en/table-of-contents/assessment/assessing-community-needs-and-resources/swot-analysis/main

This scenario is about a company called TLC. TLC is consulting firm that offers solutions to other companies in order to enhance their capabilities. Read what the owner says to gather information about TLC, then choose the most accurate statement from analysts A, B and C below. 

How to identify Weaknesses?


What are Weaknesses?

Weaknesses are also internal facts about an organisation. However, weaknesses are perceived as negative facts rather than positive. Read the above picture to clarify what weaknesses are.



How to identify them?

A good analyst also identifies all negative internal facts to address the Weaknesses successfully. An analyst gathers the internal facts about the organisation and lists them in the weaknesses section. The above picture is an example of weaknesses.


The following are four statements, choose the best statements that describe strengths and weaknesses

  • Strengths; The company cares about its staff. Weaknesses; The company spends too much
  • Strengths; The company cares about other businesses and helps them. Weaknesses; The company only relies on other businesses wanting to improve
  • Strengths; The company provides a service to other companies and also invests in their staff. Weaknesses; TLC has high expenditure compared to its profit
  • Strengths; The company offers incentives to its staff. Weaknesses; The company might have other competitors around

Step 3 - How to identify Opportunities and Threats?

What are Opportunities and Threats?

Opportunities and Threats

As you are probably aware of the PEST analysis, the Opportunities and Threats lie in the external environment of the organisation. They are things which may affect the organisation in a way that the organisation cannot control. The following are examples to elaborate:

1. When new Technology is released; the organisation cannot stop new Technologies from being released. This can be perceived as an opportunity rather than threat, as acquiring new Technology is mostly beneficial to the organisation and may increase its reputation amongst competitors.

2. The organisation does not have control over political factors that might limit its practice. This is mostly treated as a Threat as it usually limits the organisation's practice/services due to political obligations.

Identify the Opportunities and Threats for TLC in the given scenario

This scenario is about TLC. TLC is consulting firm that offers solutions to other companies in order to enhance their capabilities. Read what the owner says to gather information about TLC's external environment in order to identify all opportunities and threats for TLC, then choose the most accurate statement from analysts A, B and C below. 

How does Strengths and Weaknesses relate to Opportunities and Threats

  • One fact can contribute to both weaknesses and threats
  • One fact can contribute to both opportunities and threats
  • One fact can contribute to both strengths and weaknesses
  • One fact can contribute to both opportunities and strengths
Please indicate whether each of the following statements are True or False.

Step 4 - How to complete a SWOT table?

Identify all important facts that contribute to Strengths, Weaknesses, Opportunities and Threats

Identify all facts that contribute to Strengths, Weaknesses, Opportunities & Threats for TMN by dropping a pin on all important facts.

Drag and drop the possible Strengths, Weaknesses, Opportunities & Threats for TMN

After you have gathered the relevant facts from the TMN scenario, fill in the SWOT table by dragging the relevant information in order (1, 2, 3...etc) under each relevant section; S, W, O & T.

TMN is a Marketing company that helps businesses to advertise their products and develop successful suitable marketing strategies. TMN's marketing specialists are highly qualified with at least a Bachelor Degree, the is also required to undertake regular training for professional development. This is to ensure that the staff is always fully adequate to assist clients who are from different backgrounds and have different needs. TMN provides their services to clients from different areas in the world. The company is currently experiencing some difficulties as it is difficult to keep up with the many changes in different areas in the world. Should TMN provide services to different countries or limit its focus to only 3 countries?

  • 3. TMN offers its staff continual development
  • 5. TMN hires only University Graduates, which means they offer high quality services
  • 6. TMN can offer services to clients from different backgrounds
  • 1. TMN's exhausts a lot of resources due to the wide scope
  • 4. TMN has to consider too many social requirements
  • 2. TMN can narrow its scope to achieve higher results

Match the next terms with their definitions

  • Opportunity
    External factors that may enhance the organisation's competitive position
  • Threat
    Factors an organisation cannot control and may affect it negatively
  • SWOT
    Analytical tool which assists the organisation in defining its strategic plan
  • Strengths
    Internal factors which the company can be proud of and have no negative impacts
  • Weaknesses
    Internal factors about an organisation that are expected to have negative effects

Step 5 - Assessment Quiz

Fill in the blanks

The  process commences at corporate level. Here the organization sets out its overall mission, purpose, and values.

Choose the correct answer

  • strategy, working, opinion, tactical.
  • strengths, weaknesses, opportunities, threats.
  • strategy, work, openness, toughness.
  • strategy, weakness, opinions, tactics.
SWOT is an acronym for:

Fill in the blanks

SWOT analysis is used to identify potential growth, by identifying  strengths and weaknesses and external opportunities and  for the organisation.

Choose the correct answer

  • Threats
  • Weaknesses
  • Opportunities
  • Strengths
This is something that at some time in the future may destabilize and/or reduce the potential performance of the organization:

Choose all appropriate answers

  • Threats
  • Opportunities
  • SWOT
  • Political
  • Technology
  • Environment
  • Social
  • Strengths
  • Weaknesses
Which of the following count as external factors?

Fill in the blanks

 are factors in an organisation which are considered to have a positive impact and the company usually takes pride in.

Choose the right answer

  • True
  • False
SWOT analysis is an essential analytical tool, that can assist organisations by identifying the Strengths, Weaknesses, Opportunities and Threats in the external and internal environment of the organisation.

Choose the correct answer

  • True
  • False
Threats are unlike Strengths, because threats do not affect the organisation at all

Step 6 - What is next?

Further on SWOT

How to utilize the SWOT to its maximum potential?

Organisations can convert internal Weaknesses into internal Strengths by matching Strengths with Opportunities. Meaning when an organisation identifies an opportunity that is within reach, it can be acquired and turned into a strength, especially if this opportunity or strength are highly relevant to one of the identified weaknesses.

To elaborate:

Consider the following:

Strengths: High quality services                                                                     Weakness: High costs

Opportunities: Can save money by acquiring new technology          Threats: Competitors have bigger clientele

The organisation can acquire new technology to assist them with providing high quality services, where the technology will also save costs on the longer run. This way they will have low costs which would be considered as a strength. This means the organisation successfully applied the above model by matching strength with opportunity to a weakness into a strength; this will give the company a better competitive position in the market. 

Want to know more about Business Analysis and the variant tools? Watch the short video and have a look at the list of the 7 most popular tools for Business Analysts

This is a short video to generally explain some more tools like SWOT (Porter's competitive forces & Marketing 5 C's)

 

List of the 7 most popular tools for Business Analysts:

#1 Requirements Interviews

What are Requirements Interviews?

A lot of people will be very familiar with this Business Analysis Technique. It is the activity of performing a structured interview where the Business Analyst questions, captures, interprets and understands the intention of requirements requested by the interviewee for a particular solution. This business analysis technique again may seem very easy and informal but is in fact a specific skill for a Business Analyst to learn to master in order to be really effective during the interview itself.

When are Requirements Interviews applied?

The Requirements Interview is typically applied during the early stages of a project when stakeholder requirements are being gathered, analyzed and validated.

Why are Requirements Interviews so popular?

The Requirements Interview is so popular because it is a technique that can be applied by Business Analysts of all skill levels. It is also popular from a stakeholder engagement perspective because the business analyst builds rapport during the interview and hence forms a direct relationship with the individual stakeholder being interviewed. This in turn creates a high stakeholder engagement level for the project and potential future support from that stakeholder. Although this business analysis technique can be time intensive it has many soft benefits for the future business analysis activities on the project.

#2 Requirements Workshops

What are Requirements Workshops?

Similarly to the Requirements Interview, the purpose of the Requirements Workshop is to elicit requirements from business stakeholders about what they believe a new solution need to be able to do in order to meet their needs. The difference here is that the Requirements Workshop involves a group of individuals at once and creates a different type of requirements gathering exercise. There are many different approaches for conducting a requirements workshop and the most important factor to consider when planning this type of Business Analysis Technique is to consider the desired outcome and hence finding the audience who can provide this outcome to you.

When is the Requirements Workshop Technique applied?

The Requirements Workshop is typically applied during the early stages of a project when stakeholder requirements are being gathered, analyzed and validated.

Why are Requirements Workshops so popular?

This Business Analysis Technique is popular because it offers a quicker result than the Requirements Interview because you are dealing with many stakeholders and their collective requirements all at once. This method takes more preparation than that of a Requirements Interview but is also very popular because it allows for higher quality requirements as a result of workshop attendees having to justify why they need a particular feature or requirement to be added to the requirements set.

#3 Business Process Modeling

What is Business Process Modeling?

Business Process Modeling is a diagrammatic representation of the sequential workflow of information, processes and decisions for a particular business process. There are different notations for Business Process Modeling of which the Business Process Modeling Notation (BPMN) and Unified Modeling Language (UML) Activity diagrams is of the most widely used notations for business process modeling.

When is Business Process Modeling applied?

There are many opportunities for a Business Analyst to apply this Business Analysis Technique. Some of the most common times would be during the Analysis Phase of a project when it is important to understand and analyze the current business processes and future business process for a business area that project is concerned with. It is also very often used to support the implementation of a project and to assist ongoing procedural documentation for systems and business process changes. This is another example of a Business Analysis Technique, which is also used by other professionals for purposes not directly relating to Business Analysis.

Why is Business Process Modeling so popular?

This technique is so popular because of a variety of reasons. Firstly, it is an easy and clear way to show how a business process should logically be executed by different roles within a business to perform a certain function. People often grasp a picture or visual representation of a large amount of information much faster than a sequential description of steps to be completed. This is why this business analysis technique is so often used to represent and explain complex steps and sequences of tasks that must be performed to achieve a certain business process outcome.

#4 Use Case Modeling

What is UML Use Case Modeling?

In its most simplistic form, the UML Use Case Modeling technique is about illustrating the functions that a new system should be able to perform from a user interaction perspective. It is often used to show the main functions, actors and interactions between the actors and use cases for a new system that is being designed. This is a powerful Business Analysis Technique that is often used by Business Analysts to translate business requirements into functional specifications within the traditional software development project.

When is UML Use Case Modeling applied?

From a Business Analysis Technique perspective, this technique is applied during the detailed requirements specification and solution design stage of a project. It should be noted that this Business Analysis Technique is primarily used with the Software Development type of Technology Project.

Why is UML Use Case Modeling so popular?

The UML Use Case Modeling technique is so popular because it is a visual way to depict the high level (and lower levels at later stages) of functionality that a new system will deliver. For a Business Analyst it is not too technical to draw, it can be fairly easily understood by business stakeholders if required and it is completely in line with software development team’s requirements for functional specifications.

#5 Data Modeling

What is Data Modeling?

This Business Analysis Technique is about describing a requirement in terms of its data elements. Data Modeling is used to describe entities (things, people, places etc) of which data is to be captured and attributes for each entity to record. It then also visually illustrates how each entity relates to other entities by way of common attributes or combinations of attributes. This is also referred to as entity relationship modeling.

When is Data Modeling applied?

Data Modeling is applied during the Analysis and Design stages of a project that requires updates to be made to how, what and where data is to be stored. This could be in the context of software development, reporting development or data analytics focused project.

Why is Data Modeling so popular?

Data modeling is probably from a Business Analysis Technique perspective so popular because it is a definitive way to ensure that the data that is captured by the front end of a system is also the data that will be represented on reports for stakeholders. With data modeling it is easy to show which data elements will be present in a solution and hence whether certain reports would be achievable as output. Data base designers who uses this technique to design a data base solution can apply this technique to a lower level of detail and does this beyond the scope of a Business Analysis Technique. However, from a Business Analysis Technique perspective it is a great technique to use to ensure reporting requirements are met by a proposed design.

#6 User Stories

What is User Stories?

User stories is a fairly modern Business Analysis Technique which is a way to describe what a user wants in terms of how they will be using a system for their own purposes coming from a specific perspective. User stories are often supported by specific personas, which are created to encourage the development of the full spectrum of user stories from all identified user types.

When are User Stories applied?

User stories are mostly applied within the context of Agile Projects where an iterative requirements gathering, design and build methodology is followed.

Why are User Stories so popular?

This Business Analysis Technique is so popular because it is an effective way to put the Business Analyst and other stakeholders who is responsible for developing the requirements for a new system in the shoes of the end user. This assists with developing relevant and highly user focused solutions.

#7 Non-functional Requirements Analysis

What is Non-functional Requirements Analysis?

This Business Analysis Technique is concerned with defining and capturing the requirements to describe the characteristics required for a new or changed system. Examples of these types of characteristics would include: Performance Requirements and Data Storage Requirements.

When is Non-functional Requirements Analysis applied?

The Non-functional Requirements Analysis technique is applied on every project where a technology solution is changed, replaced or build from scratch. It is typically an activity that starts during the Analysis Phase of a project and gets refined and finalized during the Design Phase of a project.

Why is Non-functional Requirements Analysis so popular?

Out of all the Business Analysis Techniques covered in this list this is probably the only technique that is popular out of necessity. It is not a particularly easy or interesting Business Analysis Technique to apply but without this Business Analysis Technique being applied, the system involved will most likely not be able to support the intended audience in an appropriate and sustainable way. So this Business Analysis Technique is a necessary evil as they say and hence must be included in the list of the most popular techniques to know.


Source:

Business Analysis Tools & Techniques


Disclaimer

Information

Disclaimer

This Learning Object has been created for the sole purpose of being an assessment item, for Educational Design in Multimedia 3723ICT, which is part of my Bachelor of IT program @ Nathan Campus Griffith University.

Student Details

Student Name: Mina Aziz

Student Number: s2731989

E-mail: [email protected]

Topic: SWOT Teacher for Business Analysts (Own Topic)

Lecturer/Assessor: Mr. Dejan Stantic