Meeting Essentials - SWOT Thinking
A SWOT analysis is a great way for a team of people to analyze the potential of a project. This step-by-step guide will help the groupthink process go smoothly by identifying potential pitfalls, outlining expectations clearly, and structuring the creative process.
Throughout this process we will use the following scenario as an example:
You own an ice cream shop. The coffee shop next door goes on the market. You and your investors are considering purchasing the coffee shop and combining the two stores.
1. Clear information and data.
The team should not simply add data to the SWOT, but to analyze that data and come up with coherent representation within one of the four boxes in the chart.
For example: it's not enough to list the higher profit margins of the coffee shop in the strengths or opportunities column. Think about why the coffee shop does better. Identifying that:
A) The coffee shop has a drive-thru, making it more convenient for consumers than the ice cream shop.
B) Coffee is popular year round, while ice cream is weather-dependent.
"A" will go in the strengths box while "B" is put in the opportunities box; overall, the year-round popularity of the combined store will increase.
2. Identifying threats and opportunities will require creative thinking.
This expectation helps prepare the team to think creatively about the future. Everyone participating in the SWOT analysis must be prepared to use prior experience and common sense in an attempt to analyze future possibilities and pitfalls.
For example: Combining the two stores could result in great drinks such as coffee ice cream floats. A possible threat to that idea is that parents wanting a coffee may not want to bring their children into a store that sells ice cream too.
3. It may be a long process.
Prepare everyone involved to stage several meetings and multiple conversations over what may seem like the same topic or idea. Refining the original idea takes time, just as creative thinking takes time; ideas can't be forced and people need time to think and adjust. It's up to everyone to remain engaged and motivated throughout.
For example: The threat from above can be easily avoided by providing parents with the drive-thru option, providing both convenience and avoiding the ice cream temptation.
4. Ensure the process remains efficient.
Creative thinking, especially as a group, can be very difficult to control efficiently. It's easy for a SWOT analysis to go down the wrong path without proper guidance. The 7 divergent techniques from ITS will keep group creativity on a productive path.
5. SWOT is not just taking numbers and converting them into words.
Prepare the team to think creatively right away. Everyone should feel comfortable enough in their knowledge and experience to make educated predictions about the possibilities of the venture and voice their opinions. Being upfront about ideas will help the process go quickly and generate the most accurate analysis possible.
6. Crisis may require some changes to the rules.
A SWOT analysis can also be helpful in managing a crisis. You need to pay special attention to the weaknesses and threats you identify, and then pinpoint which of the threats are most likely to confront your organization. Once you have a list, you then can brainstorm about plans to fortify weaknesses or measures to take in case the threats materialize.
SWOT, Creative Thinking and On the Spot Thinking all have one thing in common; brainstorming efficiently and sorting through multiple ideas in order to come up with an elegant solution on the spot to a complex problem.
Photo credit: http://www.flickr.com/photos/space_elevator/2973053953/
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