SWOT ANALYSIS
Introduction
Strengths
Weaknesses
Opportunities
Threats
Preparation for Analysis
Questions to Ask
Additional Questions following a Satisfaction Survey
After your SWOT Analysis
Essential Module Cross Reference
TOTAL CHECKS/TIPS/QUESTIONS-TO-ASK: 300
REVEALED HERE: 90
Introduction
A SWOT Analysis can be used in various scenarios including establishing your own Company’s current position in the market or with a specific Client, the position of your Client in their market, analysing the position of your own or your Client’s Competitors or the position of a particular assignment, project, service, people placement or product you are delivering. It can also be used for your own specific work (or personal) situations, meetings, fact-finding exercises, etc., etc.
In addition, a SWOT Analysis can be used to deal with difficult people when you need to find a way forward and develop a sound working relationship.
SWOT Analysis is a technique used to evaluate the Strengths, Weaknesses, Opportunities & Threats of any given situation.
Firstly, you must define the objective of such an analysis before identifying the internal & external factors which are positive & negative in achieving that objective.
You will then need to undertake thorough research in order to produce an effective SWOT Analysis using various sources such as market/industry commentary, Annual Reports & Accounts, brochures, press articles, Google searches/equivalent, current/previous Account Managers, Account File, correspondence, one-to-one-meetings, etc., etc.
Strengths and Weaknesses usually relate to internal factors which are largely under your control. For example, your Company’s quality management system has BSI certification or a Project Manager is under-performing.
Opportunities and Threats usually relate to external factors such as you receiving an Invitation to Tender or the MD of a Competitor plays golf with your Client’s MD.
To illustrate, although the following circumstances may apply when undertaking a SWOT Analysis for any Client Account, the critical checks/tips/questions-to-ask (300) are provided under the 10 components of account management when the module is purchased.
Essential cross references to other key-related modules are also given to ensure watertight coverage of the Client.
Strengths
Strengths regarding your Company’s reputation, delivery, people, products & management which give you an advantage over the Competition – plan to maximise
Client Account is a Reference Site
your Company uses a tried & tested Project Management System which has impressed the Client
there are good working relationships with the Client at various levels
you are regarded by the Client as providing ‘value added’ extras (ie. at no extra cost to the Client)
your Company has received some very favourable press coverage recently
the Client has acknowledged that your Company understands its culture and has adapted accordingly
Weaknesses
Weaknesses in your Company’s reputation, delivery, people, products & management which put you at a disadvantage against the Competition – plan to minimise
your Company has a shortage of people with the required skill-set needed by your Client
there is a high attrition rate in your Company
your Company recently changed the Account Manager
there have been repeated errors on invoices sent to the Client
your boss has yet to be introduced to the Client and demonstrate commitment
you have yet to convince Client staff that they are not under threat by the presence of your Company
Opportunities
Opportunities for revenue growth – plan to maximise
you have identified an opportunity to provide another of your Company’s products to the Client
a new Client contact in a different business area has asked you for an introductory meeting
a Competitor has significantly overrun on delivery timescales
your Company is developing a new sales proposition which is a good fit for your Client
there will soon be an opportunity to bid for a support contract
your old boss with whom you used to get on with very well has just been appointed to a senior position with your Client.
Threats
Threats to your current &/or future position – plan to minimise
the Client has recently started talking to another Supplier
a Competitor has just launched an extensive recruitment campaign which offers a superior employment package compared to your own Company
the Client is trying to achieve too much business change in too short a time period
the Client’s own Programme Manager is not up to the job
a key Client manager is anti external help/Suppliers
a Competitor has invited every senior Client Manager to the Derby
Preparation for Analysis
In addition to research, you’ll need to set up a brainstorming meeting with a mix of key individuals, some of whom will ideally have knowledge of the Client and others who are proactive & have a good knowledge of your Company’s products & sales propositions, similar Client Accounts and the market as a whole. Ideally, at least one of these should be a successful Account Manager from a ‘model’ Account. However, although this will not always be possible/feasible for many SWOT analyses, it highlights the need to include your best people whenever brainstorming.
SWOT Questions to Ask
Please remember that it’s inevitable that some questions are equally relevant across different SWOT areas so there will always be a degree of duplication.
It’s also highly probable that you won’t score very well on your early SWOT analyses. This is quite normal so please don’t worry or despair. Your results will quickly improve which will be vital for your commitment to continuous improvement.
As you review each question it’s imperative that you ask it from all 4 perspectives, allocating a ‘yes, no, maybe or not applicable’ answer for each; so, 4 answers to each question (1 each for strength, weakness, opportunity & threat):
Management
Client culture documented, understood & accepted by all people having Client contact?
Account Manager’s performance/attributes reviewed?
resourcing issues managed to Client’s satisfaction?
10 more available
Financial
this month’s profit margin (%) higher than last month?
this year’s estimated revenue outturn greater than last year’s revenue?
no debtors older than 60 days?
7 more available
People
employment package v the market?
mentors?
people turnover less than 7.5%?
8 more available
Client
how is the Client performing in their market (increasing/declining market share)?
are any key contacts leaving or changing role?
is there access to senior Client management?
16 more available
Client Expectations (of your Company)
compatible with Client’s culture & working practices?
skills & knowledge transfer to Client staff/managers?
early warning of issues/bad news?
18 more available
Delivery/Performance
are revenue & profit margin (%) targets being achieved? If not, are they realistic?
if targets are realistic, why are they being missed (poor estimates/quotes/contracts, overruns, delays, rework, etc.)?
integration with Client staff, unity & teamwork?
10 more available
Issues
are there any personality clashes to be resolved on either side?
have there been any Client Complaints? If yes, were they logged/resolved satisfactorily?
are there any outstanding contract/legal issues?
4 more available
Sales
Opportunity pipeline rigorously qualified & improving?
lost orders reviewed?
is Client’s procurement policy & decision-making process fully understood?
14 more available
In the context of SWOT, when qualifying/trying to close sales opportunities, please consider these questions under the acronym COSMONAUTS (module 7.2):
Competition
are they currently working for the Client or done so previously?
15 more available
Opportunity
would the contract provide important new Client contacts/business knowledge?
3 more available
Solution
what are the strengths & weaknesses of your solution?
10 more available
Money
is the Client’s budget realistic?
5 more available
Objective
what is your Company’s reason for pursuing this contract? (strategic, tactical, financial, idle resources, etc.)
7 more available
Need
what are the business/operational consequences for the Client if they don’t go ahead with the contract?
5 more available
Authority
who are the influencers & decision-makers?; do you have access to them?
8 more available
Unique
are any of your USPs in the Client’s decision-making criteria?
4 more available
Timescale
can you realistically complete all the sales bid activities, in addition to what is to be delivered contractually, in the required timescales?
5 more available
Size - is the contract too big for your Company?
3 more available
Competitors
do Competitors have access to influential Client staff/management who you don’t know?
has a new Competitor been used recently (& why)?
do Competitors have weaknesses you can exploit?
also see ‘Competition’ under Sales (COSMONAUTS)
15 more available
Additional SWOT Questions following a Client Satisfaction Survey
If you already have feedback from a Client Satisfaction Survey (module 9) it’s a bonus which puts you in a much stronger position regarding your SWOT Analysis. However, if you don’t have such feedback this is not a setback. You’ll just need to initiate your first survey at the most appropriate time.
So, as results from Client Satisfaction Surveys are a crucial component when performing a SWOT Analysis, questions require significant thought and preparation. Ideally, you’ll survey the same areas at least once a year so that you can monitor trends as well as receiving a snapshot of Client satisfaction, although it may take a few attempts to refine your questions.
Satisfaction Surveys can also be used to obtain key information on the Client’s future needs, appetite for selected sales propositions and where your Company stands compared to the Competition (survey questions being tailored according to what information has already been gleaned about the Client).
Nevertheless, the key areas to receive Client feedback for input to SWOT, in the pursuit of continuous improvement, will always be your Company’s performance, expertise/skillsets, business/market knowledge and reputation.
QUESTIONS RELATING TO USERS:
value added? (proactive ideas, suggested improvements/small pieces of work free of charge)
working relationships & teamwork?
approachable, helpful, co-operative, advice & guidance?
20 more available
Deliverables
Deliverables come in all shapes and sizes (collectively referred to as ‘solutions’) including consultancy/advice, studies/reports/reviews, assignments, projects, services, people placements, products, etc. So, depending on the delivery type, you’ll need to tailor your questions including:
how effective is the ‘solution’ in the working environment?
how efficient is the ‘solution’ in the working environment?
is the ‘solution’ easy to use?
4 more available
Values & Ethos
fairness?
openness?
integrity?
5 more available
Account Manager
team player?
initiative?
drive?
3 more available
QUESTIONS RELATING TO MANAGERS/BOARD:
do your skills, services, people &/or products fit with Client organisation?
do you have a good understanding of Client business, structure, culture, working practices & the market they operate in?
would Client consider your Company might work in new areas of Client organisation &/or provide other services, people or products
7 more available
After your SWOT Analysis
WHAT TO DO NEXT 10 available
Essential Cross Reference - Actions/Updates
All checks/tips/questions-to-ask have been drawn from Balanced Scorecard (5.3), Account Performance Reviews (5.4), The Client (3.2), Sales Opportunity Qualification (7.2) & Client Satisfaction Surveys (9.0)
“ONLY A FULL & HONEST SWOT ANALYSIS WILL ENABLE YOU TO IMPROVE YOUR CHANCES OF WINNING FURTHER SALES ORDERS AND THWART THE COMPETITION”
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