Business Planning-SWOT
August 19th, 2009
I’m working with a client who is now constructing a business/marketing plan. As I mentioned in my last white paper, a SWOT analysis is very helpful in this exercise, and it’s proven to be invaluable for my client. This technique analyzes stengths, weaknesses, opportunites, and threats, and it really helps one focus. It can help to quickly identify areas for improvement and where to really concentrate one’s attention. One important point: when planning, don’t get to the end of the process before bringing in team members and subordinates. You will always get valuable input, and investment management employees generally don’t appreciate a plan which is delivered to them for execution without having had any input.
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2 Comments Add your own
1.
NickT | August 26th, 2009 at 3:05 PM
My experience in these exercises is that there is often a gap between the field-level impressions of sales/marketing people and the goals of management. Often, the goals of management are to validate their business plans with a SWOT while those on the ground seek a forum to air their concerns about product strength, marketing strategies, competitive pressures, etc. The result can often be a lack of common ground that leaves both sides frustrated. Moderators who specialize in “Process Engineering” often make a bad situation worse. Maybe an impartial moderator is needed but, at some level, nobody “internal” is truly “impartial.”
2.
Jeff Margolis | September 7th, 2009 at 2:36 PM
Couldn’t agree more. The SWOT is a wonderful tool but must be applied in a collaborative environment between management and staff so that everyone has input. And it should not be used to over emphasize planning at the expense of efficient and effective execution.
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