Reference no: EM131467519
An Individual SWOT Analysis
In order to maintain and sustain a competitive advantage, companies continue to analyze their overall strategy in light of their current situation. In doing so, they often use a SWOT analysis, which focuses on the strengths and weaknesses in the firm’s internal environment and the opportunities and threats present in the firm’s external environment. One way to gain experience in conducting a SWOT analysis is to perform one on themselves—in other words, conduct a personal SWOT analysis. Assume you are about to complete your college education and are ready to apply for a job as a manager of a small- to medium-sized facility. Perform a personal SWOT analysis to determine if your current situation matches your overall strategy. Identifying your strengths will probably be the easiest step in the analysis. These will most likely be the skills, abilities, experience, and knowledge that help differentiate you from your competitors. Take care to be realistic and honest in analyzing strengths and weaknesses. One way to identify both strengths and weaknesses is to look at previous job evaluation comments and talk to former and present employers and coworkers. Their comments will typically focus on objective strengths and weaknesses that they have exhibited on the job. You can also talk to family and friends to get their opinions on your strengths and weaknesses. You may also gather information about your strengths and weaknesses by analyzing your personal interests and learning more about your personality type.
Probably the hardest portion of the personal SWOT analysis will be the identification of your weaknesses. As humans, people are often reluctant to focus on their deficiencies; nonetheless, being aware of potential weaknesses can help reduce them or improve upon them. Since an individual is preparing for a career in management, he/she should research what skills, abilities, knowledge, and experience are needed to be a successful manager. Comparing personal strengths against those needed as a manager can help identify potential weaknesses. Once the weaknesses are identified, develop a plan to overcome them. Remember that most annual evaluations will include both strengths and weaknesses, so don’t forget to include them in the analysis.
You can identify opportunities now by looking at employment possibilities for entry-level managers. In this part of the analysis, it helps to match your personal strengths with opportunities. For example, if you have experience in manufacturing, you may initially choose to apply only to manufacturing-type businesses.
The last step of the analysis involves identifying potential threats. Threats are barriers that can prevent people from obtaining their goals. Threats may include events such as an economic recession that reduces the number of job openings for entry-level managers. By knowing what the barriers are and by assembling proactive plans to help deal with them, individuals can reduce the possibility of their strategy becoming ineffective. Focusing on a personal SWOT analysis can be a practical way to prepare for an actual company analysis, and it also allows you to learn more about yourself and your long-term plans.
1- What are your top 3 strengths and your top 3 weaknesses?
2- Look at potential management or leadership positions and identify at least one opportunity.
3- Identify 2 barriers that may prohibit you from reaching your goal as a manager or leader.
4- Refer back to Chapter 5 and write a S.M.A.R.T. goal for yourself that will help you implement your plan to become a manager or leader.