When I facilitate this exercise as part of Hoshin Kanri, we first filter out anything that isn't actionable. Then we use multi-voting or consensus ranking to select what's most important and aligns with our planning theme. With the observations that are left, we do the following brainstorming exercise: Generate 3-5 potential initiatives that LEVERAGE a strength, IMPROVE on a weakness, PURSUE an opportunity, and MITIGATE a threat.
I mentor several NPO groups to grow small business and I always come back to your whiteboards for a smart refresher on how to complete and execute the results of a well written SWOT. Thanks Erica!
Are new products and geographic expansions really external? I would argue that your product portfolio and where you you operate is within a businesses control -- if you are not meeting customer / market needs that is a weakness that can be shored up through R&D and / or changes to operations. (Trying to clarify as I use several of these strategic planning videos with my high school business class). They are really good! Thanks.
Thank you for the video. My team has found it very useful. In the video you mention an additional video on developing a Market Attractiveness Grid / Framework. Is that video available on TH-cam or elsewhere? We couldn't find it. Thanks again for your helpful videos!
Check out the video titled "A Tool to Prioritize Opportunity" here: th-cam.com/video/38M8hm9Ka7E/w-d-xo.html to explain that grid even in more depth. Glad you are liking the videos!
I don't understand, if something is in the 'strengths' category, does it not mean that you already have the strength? So you wouldn't 'need' to develop it?
Thanks for the great video and your channel ! Can you please suggest a book which cover most of these topics.. And please tell how do you do your research ? Is it reading books and papers, interviews with industry experts or other means?
Hi Akshay. You can download our How To Guide on Strategic Planning at onstrategyhq.com/resources/strategic-planning-process-basics/ or we wrote the Strategic Planning Kit for Dummies, which you can find on Amazon.
When I facilitate this exercise as part of Hoshin Kanri, we first filter out anything that isn't actionable. Then we use multi-voting or consensus ranking to select what's most important and aligns with our planning theme. With the observations that are left, we do the following brainstorming exercise: Generate 3-5 potential initiatives that LEVERAGE a strength, IMPROVE on a weakness, PURSUE an opportunity, and MITIGATE a threat.
I mentor several NPO groups to grow small business and I always come back to your whiteboards for a smart refresher on how to complete and execute the results of a well written SWOT. Thanks Erica!
Thanks for sharing!
@@virtualstrategist kK
KK
You are all so well versed and knowleadgeble. Thank you for sharing.
Dear Erica you explained concept as beautifully as is your personality.
Very useful for our Fintech Startup!) Thank you Erica!))
Thank you sir Josh I've learned a lot from this video.
Well done! I like it. Ty
Are new products and geographic expansions really external? I would argue that your product portfolio and where you you operate is within a businesses control -- if you are not meeting customer / market needs that is a weakness that can be shored up through R&D and / or changes to operations. (Trying to clarify as I use several of these strategic planning videos with my high school business class). They are really good! Thanks.
Thanks for putting such a nice video ... really helpful 👌🏻
My pleasure 😊
Great tool to use when you want to see the big picture
Thank you for sharing your knowledge. really appreciated it.
Thank you for the video. My team has found it very useful. In the video you mention an additional video on developing a Market Attractiveness Grid / Framework. Is that video available on TH-cam or elsewhere? We couldn't find it. Thanks again for your helpful videos!
Check out the video titled "A Tool to Prioritize Opportunity" here: th-cam.com/video/38M8hm9Ka7E/w-d-xo.html to explain that grid even in more depth. Glad you are liking the videos!
Very nicely put .Thanks
Excellent video
Great job thank you so much
thank you for your video, i hope i can know about your chalnnel sooner than.
Thank you, good video, well presented
Glad you enjoyed it!
Thanks for your SWOT
great!
I don't understand, if something is in the 'strengths' category, does it not mean that you already have the strength? So you wouldn't 'need' to develop it?
You can deep dive more into the SWOT category here: onstrategyhq.com/resources/evaluate-strategic-position/
Thanks for the great video and your channel !
Can you please suggest a book which cover most of these topics..
And please tell how do you do your research ? Is it reading books and papers, interviews with industry experts or other means?
Hi Akshay. You can download our How To Guide on Strategic Planning at onstrategyhq.com/resources/strategic-planning-process-basics/ or we wrote the Strategic Planning Kit for Dummies, which you can find on Amazon.
@@virtualstrategist thankyou
You, Great.
hi please send the link for market attractiveness grid
Find more information on SWOT here: onstrategyhq.com/swot-assessment-guide-download/
I'm going to use with my business
Great!
Yo Eric Olson first your hot !!! second your the most informative well organized virtual strategist online here to 10 million subscribers cheer's
Glad you've enjoyed our videos. Many more to come :)
@@virtualstrategist dear I need your email I want you give some notes related business management
@@speededucation686 hello@onstrategyhq.com
What an informative analysis you made.
Thank you very much.
@@dilliwa Glad you liked it!
Now i know