A Different Kind of SWOT

A staple of many strategic planning efforts is to conduct a SWOT analysis (strengths, weaknesses, opportunities and strengths). I prefer to use COS (Concerns, Opportunities and Strengths) since I don’t see the value of discussing “weaknesses,” per se, another subject for another time.

While this analysis is directed inward as a review of the organization during the planning process, SWOT can also be used in different ways. Here’s how.

First, have your senior leadership team conduct the analysis for your organization. Then, turn it around. Conduct a SWOT analysis on your top 3-5 direct competitors. Base this effort on the knowledge you have readily available. This can come from several sources, including common customers, suppliers and your general sense of how they operate. A review of their website is also useful.

This can be a revealing exercise on a couple levels. First, each member of your team may have different, complimentary intelligence on your competitors. Second, it may surface sources of competitive intelligence your team members have access to that you may not have been aware of, such as former customers of theirs. This may be especially true for new employees.

It can also be helpful to compare your SWOT to the one you created for your competitors. Are there common elements to be found? Where are there distinctive differences, items that stand out as unique for you and for your competitors?

Next, consider conducting a SWOT analysis on your company from your competitors’ point of view. How do you and your senior team members think your competitors view you? While this may not be completely accurate, it will engender some lively discussion.

Add to this the following exercise. Have your team role play with the following scenario. They are working for a competitor of yours. Their assignment is to put your organization out of business in six months. What would they do first? Where would they focus their attack? Which areas would be prioritized? Where and how do they feel you are most vulnerable?

While these activities can bring about useful competitive insights, they are not for the faint of heart. You may hear some uncomfortable things about where you have exposure, areas of vulnerability. The fact is, a properly organized and executed strategy and planning retreat is just the place to put these issues on the table and talk through strategies to mitigate their potential impact.

For more information on preparing for and executing high-level strategy and planning meetings, contact me at joe@ajstrategy.com.

The preceding content was provided by a contributor unaffiliated with Printing Impressions. The views expressed within may not directly reflect the thoughts or opinions of the staff of Printing Impressions.