Businesses use SWOT analysis to create strategic plans. You can also conduct an audit of your personal development. As a training professional with more than 25 years of experience, I help people use a SWOT analysis to evaluate their strengths, weaknesses, opportunities and threats before making any major decision. Here’s how you do it:
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Before you conduct an audit, gather all the required information for the specified time period, such as a year. Look closely at all the data sources so you can draw a reasonable conclusion. For example, a corporate trainer might examine the feedback reports for course reports and read the comments closely to identify her strengths. Comments often provide useful insight regarding behavior to continue, such as asking a lot of open ending questions that engages the participants.
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Use financial information to generate a return on investment value. For example, look at the cost of hiring a vendor to run a workshop on specialized topic, such as emotional intelligence. Divide that value by the number of participants to generate a cost per student. By spending that money, has your organization seen a commensurate reduction of costs or increase in sales due to better behavior. If yes, you should consider offering this program, as is. If the answer is no but the topic is still relevant, you should see it as an opportunity for personal development and become familiar with free resources so you can deliver your own workshop.
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Identify weaknesses by listing operational metrics not met. Then, conduct a root cause analysis to determine why these gaps in performance occur. For example, if cancellation rates for your courses are, figure out why. Interviews and focus groups may reveal that sessions are offered at inconvenient times.
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List threats that represent risks. Risks may include reduced budgets due to a poor economic climate, fewer training participants due to more competitors and less interest in topics.
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Create a SWOT chart using a template or create your own format. Strengths go in the upper left. Weaknesses go in the upper right. Opportunities go in the lower left and threats go in the lower right.
Using SWOT analysis in any audit helps you analyze information carefully to identify actions you need to take to be successful on the job both now and in the future.