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How To Conduct A SWOT Analysis For Your ISO Management System - THE QHSE GROUP
How To Conduct A SWOT Analysis For Your ISO Management System - THE QHSE GROUP
info@theqhsegroup.com(mailto:info@theqhsegroup.com)
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(https://www.theqhsegroup.com/)
A SWOT analysis is a simple strategic tool for identifying and documenting internal strengths , weakness of the organization and
external opportunities and threats.
The output of SWOT analysis will support the organization in strategic planning and risk management.
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A SWOT analyses also helps organizations in identifying immediate goals / objectives and assist in achieving them
There are certainly other questions you could ask; these are just meant to get you started.
What factors that are within your control detract from your ability to obtain or maintain a competitive edge?
What areas need improvement to accomplish your objectives or compete with your strongest competitor?
What does your business lack (for example, expertise or access to skills or technology)?
Does your business have limited resources?
Is your business in a poor location?
What opportunities exist in your market or the environment that you can benefit from?
Is the perception of your business positive?
Has there been recent market growth or have there been other changes in the market the create an opportunity?
Is the opportunity ongoing, or is there just a window for it? In other words, how critical is your timing?
You have no control over these, but you may benefit by having contingency plans to address them if they should occur.
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What about shifts in consumer behavior, the economy, or government regulations that could reduce your sales?
Has a new product or technology been introduced that makes your products, equipment, or services obsolete?
The first step, before SWOT analysis, is to understand and know your organization and the environment it operates in.
SWOT analyses can be performed with a little research about the industry, core organization activities, market and competitors.
It is recommended to also consult with other staff, clients and third parties
You need to list the strengths of your organization which could be related to core competencies, business model, financial resource,
business location, culture of the organization and competitiveness.
Weaknesses to your business are the ones that put your business at a disadvantage to others. In this step, you need to list all such
weakness to your business.
Weakness can be related to the absence of new technology, high employee turnover, lack of innovation, declining market share, small
financial support, change management and culture of the organization.
The weaknesses of the company shall be considered as the risk factors for your business. Weaknesses change over time and have to be
removed from this list when the SWOT document is reviewed.
Note: Strengths and weaknesses reflect the internal factors of the business.
All organizations have a broad range of potential external opportunities to improve management system performance .
For the growth and sustainability of your organization, It is important for you to identify those potential opportunities.
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Opportunities are potentials factors that your organization can invest upon and grow.
Failure to recognize and take action on an opportunity can become a threat to your organization.
Threats are external issues which can affect your objectives & you may have no control over them. These threats may disable your
organization’s ability to achieve its objectives over time.
Threats can be related to employment, increasing competition, higher interest rates and the uncertainty of global markets.
Before you develop the strategies for the SWOT list, you need to prioritize them. The list can show you an overall picture of your
business and helps you to understand the context in which your business operates (a requirement of ISO 9001:2015 quality
management system standard). You need to consider the current business need and objective to prioritize the SWOT list. It is
recommended you take actions on items that require immediate care. This allows you to refine and prioritize your SWOT list.
Failure to develop necessary strategies for the SWOT shall make the entire exercise go in vain. Appropriate strategies are drawn up and
identified to ensure growth and success of the business. Weakness, opportunities and threats in your SWOT list can be managed
through your risk management process. Answer the below question to determine and develop appropriate strategic direction
How can you use your strengths to take advantage of the potential opportunities?
How can you use your strengths to overcome the threats identified?
What do you need to do to overcome the identified weaknesses to take advantage of the opportunities?
How will you minimize your weaknesses to overcome the identified threats?
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See our SWOT analysis examples article for in-depth examples of SWOT analyses for several different industries and business types
or download our free SWOT analysis template.
Once you have identified and prioritized your SWOT results, you can use them to develop short-term and long-term strategies for your
business. After all, the true value of this exercise is in using the results to maximize the positive influences on your business and
minimize the negative ones.
But how do you turn your SWOT results into strategies? One way to do this is to consider how your company’s strengths, weaknesses,
opportunities, and threats overlap with each other. This is sometimes called a TOWS analysis.
For example, look at the strengths you identified, and then come up with ways to use those strengths to maximize the opportunities
(these are strength-opportunity strategies). Then, look at how those same strengths can be used to minimize the threats you identified
(these are strength-threats strategies).
Continuing this process, use the opportunities you identified to develop strategies that will minimize the weaknesses (weakness-
opportunity strategies) or avoid the threats (weakness-threats strategies).
The following table might help you organize the strategies in each area:
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Once you’ve developed strategies and included them in your strategic plan, be sure to schedule regular review meetings. Use these
meetings to talk about why the results of your strategies are different from what you’d planned (because they always will be) and decide
what your team will do going forward.
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I have pending 2 learning certification with CPD certification under qhse program. Can you guide me to choose best course?
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