For any type of work you carry out, your personality contributes a lot to the success of the work. Self analysis and analyzing the environment in which we work and actual knowledge about the work are the major factors that contribute to the success of our work. SWOT analysis is an effective method of identifying your Strengths and Weaknesses, and to examine the Opportunities and Threats you face. Generally, SWOT analysis is conducted for the teams or groups by the team leader or project leader. The major benefits of performing SWOT analysis as far as individuals are concerned are:

•   Identifying career growth of the individual
•   Identifying personal effectiveness and productivity
•   Tapping the potential of the individual which have not been identified so far
•   Nullify weaknesses in the individual and evolve a suitable action plan as a part of remedial measure
•   To get a clear picture and focus of growth opportunities for the individual
•   Identify training needs for the individual from the weaknesses

In total when performed for a team or group, SWOT analysis serves as a balance sheet indicating the health of the team/company.

To summarize, build on your strength, address your weakness by evolving appropriate action plan, leverage your opportunities and eliminate threats. One important thing iwhich you have to keep in mind is strength and weakness are internal, and opportunity and threat are external factors.

Role of SWOT Analysis in Grafting a Better Strategy

Often carrying out an analysis using the SWOT framework will be enough to reveal changes which can be usefully made. To understand this better, we will discuss a SWOT analysis done by a company and an individual.

Effective Use of PQI

You identify your weakness and frame a statement as to how you are going to reduce/eliminate it. The parameter you take up should be SMART (Specific, Measurable, Achievable, Realistic and Trackable) with an objective. You maintain a calendar and monitor your activities specified in the parameter regularly. Mark the defects for the parameter consciously. This way, you have a control over the weakness. In due course, you get rid of one weakness which is hampering your growth.

Some sample PQI parameters for you to understand:
1.   Late for classes (Late by even two seconds will cause a defect) Carry some reading or work materials in case others are late for the class.
2.  Completing the to-do list activities daily.
3.  Get up early in the morning at 5.30. (Late by even 5 minutes will cause a defect)
4. Exercise daily for half an hour (with proper timings to identify defects)
5. Read everyday’s news paper before 10 p.m.
6. Read an article of my interest every Sunday.
7. Clean my study room every Sunday.