Week 2: Evaluating Situational Analysis
Welcome to Week 2: Evaluating Situational Analysis - Strengths & Weaknesses
Last week we talked about strategic thinking and the business lifecycle. This week's lesson is on understanding the environment and how your business fits into it. If you have completed your assignment from last week, you should have an understanding of your company's strengths and weaknesses and have some thoughts around how you want to address them.
Keep in mind that the different areas of deficit your company has is related to your company's business lifecycle. for example, if you don't have a mission or vision statement (written) - that is a Survival-level activity that you may score at a higher priority than some other areas.
Note that the SWOT also contains an Importance/Urgency matrix also known as the Eisenhower matrix. It is used as part of the decision-making process and can also help to prioritize activities in the business. I'll explain further in the associated video.
Here is a link to the PowerPoint and notes and notes you can review.
Please review the videos below. Feel free to leave a comment.