History has a tendency to repeat itself. And it repeats, when you do not convert your weaknesses into Strengths. Similarly, when you do not change Threats into Opportunities. You are most likely to succeed in life if you use your talents to their fullest extent. Likewise, You’ll suffer fewer problems if you know what your weaknesses are. To distinguish thy-self among your competition, one need to be highly responsive. One needs to be aware of own shortcomings/strengths. One should possess good sense of competitive pressures and operating environment. To accomplish this, individuals can make use of the same strategic planning tools that companies have relied on for decades – SWOT..
SWOT simply stands for Strengths, Weaknesses, Opportunities, and Threats.
First two categories focus on aspects that are part of one’s internal environment which are under her/his control. Last two categories focus on identifying external factors that are generally not under a person’s direct control.
To engage in this analysis, simply divide a page up into 4 quadrants (like the figure below) and separately list relevant factors of SWOT as they apply to your situation.
Here’s a pictorial diagram of questions and factors to consider in a personal SWOT analysis.
Insights gleaned from the SWOT analysis should be used to develop objectives, strategies and action plan for the performance reviews and monitoring ongoing career development goals. Following set up (often referred to as TOWS analysis) can be used to create additional strategies – by considering how your personal strengths, weaknesses, opportunities, and threats overlap with each other.
Chance favors the prepared mind.– Louis Pasteur
A SWOT matrix is used in analyzing your strengths and weaknesses as well as the opportunities and threats that you face. This helps you focus on your strengths, minimize your weaknesses, and take the greatest possible advantage of opportunities available to you.