Strategic Planning and the SWOT Analysis
Strategic planning happens daily in business, as companies work to evaluate themselves and their competition, while working to exploit strengths and minimize weaknesses. The same model many of these companies use – the SWOT analysis – can be applied your personal life. You will be surprised at how a little self-analysis allows you to better see yourself and see the opportunities available for you.
The SWOT method involves assessing the “helpful” (strengths, opportunities) with the “harmful” (weaknesses, threats). A SWOT analysis can be applied at any stage in life, whether you’re trying to decide what you want to be when you grow up, trying to choose a college major, or looking at your career opportunities.
In the above video, Dr. Shawn Milligan explains how the SWOT method will give you a greater understanding of yourself and the external environment, and position you for success. After you’ve seen the video, download your personal SWOT analysis to get started.
Written by Dr. Shawn Milligan
Dr. Milligan is an Assistant Professor with the Forbes School of Business® at Ashford University.