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Lesson:

SWOT Analysis

Course: HR Strategic Planning
Module: Formulating the Strategy
Lesson Type: Video
Lesson Duration: 2:34

Lesson Transcript

So what now? Next, I’ll be talking to you about bringing all of the data you have collected and condensing it into a SWOT analysis.

SWOT Analysis was created in the 1960’s by Albert Humphrey, a management consultant at Stanford’s Research Institute, and it ‘ a great tool for Strategic Planning.So what does SWOT stand for? S is for Strengths, W is for Weakness, O is for Opportunities, and T is for Threats.

All the work you have done thus far as you take the appropriate steps to formulate a strategic plan, falls into one of these buckets. Let’s talk a little about each –

Strengths; what did you find were the organization’s strengths? Perhaps you found that you have a high rate of employee referrals, this would be a strength.

Weaknesses, what did you find were the organization’s weaknesses? Perhaps the hiring process takes too long, jeopardizing the offer acceptance rate.

How about Opportunities, what did you find? Use the group of new summer interns to increase your social media footprint, thus, having a broader reach to candidates.

And finally, what Threats did you find? Perhaps there’s a new kid on the block, a direct or indirect competitor that offers unlimited vacation time which has already created an internal stir.

Here is a real-life SWOT Analysis by Liz Claiborne

Let’s talk about the strengths first.

Liz Claiborne is a well-established brand.
They have an international presence.
They offer quality goods at a moderate price.
And they have a stable customer base – in this case, working women.

Now let’s talk about the weaknesses.

Liz Claiborne doesn’t attract younger women.
The consumer mentality is not in line with the company’s objectives.
And they have a limited distribution.

Onto the opportunities that Liz Claiborne has.

There is a huge market for younger women, and there is a possibility for lifetime brand loyalty.

And finally, let’s look at Liz Claiborne’s threats.

Competition, of course, something that every organization faces, and the demand for fashion is always fluctuating.

The diagram is simple, clear and concise, and will be very helpful as you and the rest of the planning team move through the process.

Instructor:

Hayley Buonopane

With nearly two decades in the Human Resources field, Hayley is a subject matter expert with a specialty in workplace planning and development, employee relations, organizational development, and talent acquisition....

Hayley's Full Bio

Module 1 0/4

Setting the Foundation

Introduction & Course Welcome

What is HR Strategic Planning?

Need & Motivation for Strategic Planning

Myths about Strategic Planning

Module 2 0/4

Understanding the Organization

Module 3 0/10

Formulating the Strategy

Balanced Scorecard

External Analysis

Competitive Environment

Internal Analysis

Internal Analysis: Who are Your Employees?

Culture Audit

Forecasting

SWOT Analysis

Communicate, Engage & Align

Job Analysis

Module 4 0/2

Implementing the Strategy

Making It Happen

An Example

Module 5 0/3

Monitoring & Evaluation

Evaluating the Plan

Course Wrap Up

Quiz

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