life swot analysis and business swot analysis
What is SWOT analysis?
SWOT is an acronym used to represent strengths, weaknesses, opportunities and threats. Some people will call it self discovery. Whether in business or in our everyday activities, SWOT analysis is an indispensable tool that helps direct our paths in the wilderness of life’s challenges.
When we scan our environment with the aim of recognizing our strengths, weaknesses, opportunities and threats so as to take an informed judgment, we have simply carried out a swot analysis. It can be done formally or informally. The name given to it and how it is done does not matter but, the intent of carrying out the activities is what really matters. Swot analysis can be carried out on virtually any field of life. Information security swot analysis is an example of one area where a swot analysis can be carried out.
LIFE SWOT ANALYSIS
Life swot analysis is not an easy thing to do but is doable. Life itself is a challenge that needs to be challenged in a challenging way in order to get anything meaningful out of life.
Self discovery is the key to personal or life swot analysis. There are many things you can do to really discover yourself, just to get you rolling on self discovery; here are some useful tips to help you discover yourself: acquire knowledge, know your temperament, reflect soberly and meditate. There is this saying in IGBO Land (a tribe in the eastern part of Nigeria) that says; you cannot be at home and know that condition of market. You have to be at the market to know if things are moving or not (though this may not necessarily be the case now that the world has turned into a global village)
Same applies to self discovery and life swot analysis. You cannot know that you are weak in a thing when you have not even attempted to acquire knowledge about that thing. Knowing your temperament is a good way of carrying swot analysis of your self and taking necessary actions to make amendments in the areas you are not too comfortable with. Sober reflections and meditations sometimes provide solution to a problem we have been battling with for some time.
BUSINESS SWOT ANALYSIS
Business swot analysis and in fact every other swot analysis is relatively easy to carryout once life’s swot analysis has successfully carried out. Business swot analysis starts with scanning of the environment. You scan both the micro and the macro environment. These environments collectively comprise of political environment, natural environment, socio cultural environment, economical environment, technological environment, etc. A business need to understand her strengths and weaknesses in terms of workforce and other assets base. A company/ business that have the finest hand in IT for instance will want to figure out ways of converting that bunch of quality IT personnel into profitable money Making Avenue. This they can do by harnessing the opportunities that IT presents in business and minimizing the threats that comes along with IT. Just pick any facet of business and apply this simple technique of trying to maximize returns from opportunities through your strengths and minimizing your weaknesses while at the same time watching out for threats and you will be rest assured that your chances of making mistakes will be minimal.
Now that you know that a swot analysis can be carried out on anything, the next thing that you need to do is to take action and implement all that you have learnt since you were born and excel in life.
More by this Author
Investment appraisal or capital budgeting is the process of evaluating a project for its economic viability. Many methods of investment appraisal exist – ranging from ordinary payback period to...
A lot has been said about agriculture in Nigeria. Some said it is dead while some others say it is still alive. Whatever the case maybe, is irrelevant, what matters most is the way forward and that is the main purpose...
Meaning and importance / significance of financial management suddenly found its way back into the lips, head and heart of almost all living beings. This recent development could be unconnected with the slow recovery of...