Evaluate one appropriate analysis tool and one appropriate analysis method that might be applied by organisations to recognise and diagnose issues, challenges, and opportunities

Evaluate one appropriate analysis tool and one appropriate analysis method that might be applied by organisations to recognise and diagnose issues, challenges, and opportunities

A more useful instrument which organisations can apply for the purpose of the detection, situation, and definition of the issues, goals and opportunities is the method of SWOT analysis. The SWOT Analysis is an often-used technique of pinpointing the Strengths, the Weaknesses, the Opportunities and the Threats. It is a strategic management tool which allows to identify and considers the factors, which may have a positive or negative influence upon achievement of such goals.
Here’s how SWOT analysis can be applied:Here’s how SWOT analysis can be applied:
• Strengths: Find out what the organization does at the top level, such as successful reputation or workforce competence, and highlighting of a competitor product.
• Weaknesses: Identity areas the business lags behind, for instance, a vicious market, financial impediments, and weak customer service.
• Opportunities: Identify trends, new technologies or in other words industry changes that are beneficial to the organizations such as entering new market, partnerships, or processes that are regulated by the government.
• Threats: Establish all external types of threats that may inconvenience the organization, for example, competition, market saturation or adoption of new laws and regulations that may be detrimental to the organization.
SWOT analysis has the unique advantage of helping companies be more responsive by creating a thorough understanding of their current situation and external environment. It gives direction to the organization, providing basis for strategic decision making, and it helps the organization to use its strengths, to utilize opportunities while facing and trying to handle shortcomings and threats.
Regarding the method of analysis, both check-in/check-out method and SWOT analysis can be practiced as the options. Such approach begins and ends the sessions with an identical, 2-min check-in, check-out on what we expect from the meeting, how it’s going, as well as what we think should be done the next time. It is the key to the effectiveness of a meeting which can be achieved by ensuring the participants are devotedly present in the meeting process and examining the outcomes and moves to be done in future.
Conducting a SWOT analysis in conjunct with the Check-in/Check-out method helps organisations to address both the internal and external problems in a gradual manner and create a sustained environment of collaboration and reflection within an organisation as the decisions are being made..