In previously written post, ‘SWOT Analysis‘, we knew about Strengths, Weaknesses, Opportunities and Threats of ‘SWOT Analysis’. In this post we will know about SWOT Matrix.
We will see how a person can discover SWOT factors, analyse them and make a decision using these tools based upon personal experiences.
|OPPORTUNITIES||S-O STRATEGIES||W-O STRATEGIES|
|THREATS||S-T STRATEGIES||W-T STRATEGIES|
S-O strategies pursue opportunities that are good for the organization’s strengths.
W-O strategies overcome weaknesses to pursue opportunities.
S-T strategies identify ways to use its strengths to reduce the vulnerability to external threats.
W-T strategies establish a defensive plan to prevent the weaknesses susceptible to external threats.
- Build and,
It is an internal influence. You have develop strength of your organization. It is very important to keep it going.
It is an external influence. There is always an opportunity. An organization or an individual has to identify any opportunity.
- Prioritize and,
It is an internal influence. Every organization or an individual has their own weaknesses. You have to identify your weak point at right time. It is very necessary to overcome weaknesses.
- Remedy or,
It is an external influence. Threats may come or arise from various sources. There is always a threat in business world. Threats are also present in an individual’s personal life.
- It is a systematic analysis of any programme.
- Swot Matrix is a tool for organizational management.
- It is has become a powerful tool in many other fields.
Effective Swot Matrix
- Your project and its goal should be clear. You should take calculated risk. In this case, you will face less threats.
- Don’t make a project on your single idea. Take help from other wise people. In this case, you can make a project with clear objectives.
- After the analysis of all factors, rank the SWOT (Strength, Weakness, Opportunity, and Threat).
- You will convert opportunities.
- Most important thing is that you are aware of future threats.
- You may convert a threat into risk before making it your strength.
This is an educational post. The post belong to agricultural extension education.
Last updated: 09-01-2022