Patrick Seaton on SWOT Analysis and Overview Conversational Framework on Innovative Management Tools Radio Show with Peter Mingils

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Patrick Seaton talks about SWOT Analysis on The Innovative Management Tools Radio show with Peter Mingils.

A SWOT analysis is a strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a business venture, project, or even an individual's situation.

It provides a framework for organizing and using data to make better, more informed decisions. It involves looking at both internal factors (Strengths and Weaknesses) that are within the control of the entity, and external factors (Opportunities and Threats) that exist in the broader environment and are outside of the entity's control.

Here are the definitions of each component:

• S – Strengths (Internal, Positive):
  • Definition: These are the positive, internal attributes or resources of the organization, project, or person that contribute to its success and give it an advantage over competitors.
  • Examples: Strong brand reputation, unique technology, loyal customer base, skilled employees, or strong financial health.
• W – Weaknesses (Internal, Negative):
  • Definition: These are the negative, internal factors, limitations, or deficiencies that hinder performance or place the entity at a disadvantage relative to others.
  • Examples: Lack of capital, outdated equipment, inefficient processes, gaps in team expertise, or poor online presence.
• O – Opportunities (External, Positive):
  • Definition: These are favorable external factors in the environment that the entity can potentially leverage or exploit to its advantage to achieve growth or success.
  • Examples: Emerging market trends, new government regulations that favor the business, a competitor's weakness, or advances in technology that can be adopted.
• T – Threats (External, Negative):
  • Definition: These are unfavorable external factors in the environment that pose potential risks or challenges to the entity's performance, stability, or ability to achieve its goals.
  • Examples: New competitors entering the market, economic downturns, changes in customer preferences, rising raw material costs, or adverse regulatory changes.

Peter Mingils adds some real life experiences and examples.
Patrick spends some time on OVERVIEW as this week's Customer Framework during the second half of the radio show.

Ask Patrick about that when you order the Change OS book

To get this, reach out to Patrick on Linked IN
https://www.linkedin.com/in/patrickseaton

Patrick's previous shows can be found on:
https://buildingfortunesradio.com/imt/

Patrick also announces the release of his AI Tool called "Ask Alex". check in on Linked In and Patrick will explain.

Each week Patrick Seaton shares his decades long knowledge and experiences. Patrick gives several stories and examples and even offers an opportunity to have access to his executive level training and coaching. Contact Patrick and tell him you heard him on Building Fortunes Radio. Patrick Seaton owns https://innovativemanagementtools.com

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