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These are therefore key aspects of doing a SWOT analysis.Typically, a SWOT analysis is conducted in a group setting, with a leader facilitating the discussion.
Once a group is compiled, it is often helpful to have a leader or facilitator in charge of the discussion and writing process.
And, SWOT analyses are frequently done on corporate retreats or in a designated session so as to avoid distractions and ensure everyone is focused.
When conducting the analysis, a business or person should create a list of all the factors that are internal (on the SW side of the SWOT) and the things that are external to the organization (the OT side of the SWOT).
Within the SWOT analysis' 2x2 square, the first two sections are strengths and weaknesses -- and represent the internal factors or assets of the company, organization, or individual.
In the same vein, a personal SWOT analysis utilizes the four aspects -- strengths, weaknesses, opportunities and threats -- but applies them to the individual instead.
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So, for a personal SWOT analysis, you may outline your strengths -- like being punctual, having a degree or years of experience in a certain career field, or being a good writer -- and then progress to analyzing your weaknesses -- which could be things like not being proficient in a computer program, having a short temper, or needing to work on interpersonal skills.If you would like to record your session, begin recording or monitoring the session.At this point, the group should begin discussing things about the company that fit into each category, thereby creating a company profile.Even though SWOT analyses are often done for companies or corporations (and other such entities), they can be just as effective and helpful for individuals to conduct on themselves.In fact, conducting a SWOT analysis on yourself can be a great way to provide insight into your assets and challenges, especially when wishing to improve your performance at work in light of a raise or other opportunity, or even when gunning for a new job.These are factors inside the company that contribute to its current success (or failure) and are assets or challenges the company has.The external factors are the latter two sections of the SWOT analysis and include things that comprise the environment the company, organization, or person is in.An entity (usually a company or business, but also sometimes an individual or other entity) will typically conduct a SWOT analysis to assess the state of the company, etc., often before considering some action like expansion, and can help increase things like market value or share.For these reasons, SWOT analyses are strategic tools that can help a company or individual plan for the future.Both opportunities and threats are things that are external.So during a personal SWOT analysis, you might examine threats like other candidates for a job that have training that makes them more valuable, and compare it to an opportunity like getting a certification for that training that will make you more competitive.