What is a S.W.O.T. analysis?
It is a very personal self-assessment framed as an overview of where you are in your career and it may reveal reasons why you are not where you would prefer to be. You may examine your Strengths, Weaknesses, Opportunities, and Threats within a structured format. This four-part series offers an opportunity to conduct a career reality check of all positive factors along with uncertainties that should be resolved. In essence, this is a vital examination for anyone having difficulty reaching his or her potential for higher income and better job security.
Having and maintaining good health, happiness and wealth is a pathway to reach true prosperity and for most, it is a worthwhile goal. After completion of all four SWOT components, you will be positioned to build on your strengths, shore up your weaknesses, recognize opportunities, and prepare for threats (these will always exist).
As objectively as possible, identify your strengths as related to your current life experience. The examples used in the SWOT analysis are based on a compilation of recommendations from the book “Life After Layoff,” by Van Ness and Donohue.
A non-exhaustive checklist format of examples (in random order) for the Strength portion of your SWOT analysis follows. Be brutally honest with yourself and always avoid upward bias.
Strengths (Some examples)
- You have demonstrated problem–solving skills. In writing, record how you solved enterprise problems and the outcomes of those achievements.
- Your credentials/education requirements for your job are current. Consider the fact that many degrees have a shelf life and relevant continuing education gives current validation to credentials.
- You have demonstrated leadership skills. Record examples of how you have been recognized for this ability.
- You have solid sources for networking. Document in writing the means through which you have access to industry actionable intelligence and expertise with supply chain management.
- You have appropriate professional/trade memberships. List the organizations to which you belong, and offices held, if any.
- You have major achievements in your work history. List each and the positive impact made by each achievement.
- Your values are compatible with the organization for which you work. In many cases, there may be some conflict in values. Is compromise viable in the long-term?
- Others? Record and provide evidence of any other significant strengths.
Be sure to include documentation wherever appropriate. Make this a formal written document and use it as a fluid instrument. As things change edit your status. Keep this evaluation as current as possible. Always be at the ready to secure opportunities and to manage any threats.
Part 2 in the series addresses alternative ways of dealing with potential weaknesses.
Be sure to follow the Millionaire Choices advice columns for your personalized lifestyle enhancements.
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New York Times bestselling author William D. Danko and Richard J. Van Ness, wrote the research-based book, “Richer Than A Millionaire ~ A Pathway to True Prosperity,” which shows the way to wealth and happiness through embracing traditional values. Washington Post’s Michelle Singletary selected this book as, The Color of Money Book of the Month. The $9 billion Vanguard Charitable fund website features our book.
Content appearing in this article is inspired by the authors’ book, which is available at Amazon.com and bookstores. Visit the authors’ website, RicherThanAMillionaire.com.
Note to Professors and Teachers… Complimentary ancillary materials are available for classroom use with adoption of our book. Visit our website for details by using the services tab.