SWOT Analysis is one of the most useful tools, which can be used in Human Resources. SWOT Analysis is not hard to use, but it can produce really great results, which can be immediately presented and it helps to sort out the ideas of the group.
The SWOT Analysis is a tool to recognize initiatives to be taken and also the environment, in which this initiative will be taken. The SWOT Analysis helps to get the whole group of employees on the same boat and to focus on the real identified issues. On the other hand, the SWOT Analysis can be also used as a tool to sort out ideas personally. No participation of the group is needed.
The SWOT Analysis stands for:
The Strengths describe the strengths inside the organization, which make it really unique on the market and which can be used as a basis for the future growth. Weaknesses on the other hand described the potential to improve inside the organization.
Opportunities and Threats are completely focused on the external world. Strengths and Weaknesses are internal and the other two parts are their mirror in the external world.
The most important condition for the SWOT Analysis is a honesty of the team, which prepares the analysis. When the team is not honest with the current status of the organization, then the result delivered can be too optimistic and the correct issues to be solved are not selected.
The best approach is to have an overall business SWOT analysis as a basis for the concrete SWOT Analysis. It is always good to have some general boundaries set as the specific SWOT Analysis should not exceed the boundaries defined by the general business SWOT Analysis. And to apply the most important rule – never spend a lot of time on preparation of the SWOT Analysis.