Lesson 3. Converting Business Insights into Actionable Strategies
Lesson 3 - Table of Contents
Learning Objectives
Strategic thinking skills are among the most highly sought-after management competencies. Why? Because employees capable of thinking critically, logically, and strategically can have a tremendous impact on a business’s trajectory. For this lesson, you will apply strategic thinking using the Action Oriented SWOT framework in order to develop strategies for the future based on current insights. After this lesson, you will be able to do the following:
- Detail the types of strategies that are generated by the Action SWOT Analysis
- Construct an Action Oriented SWOT.
- Determine whether a Traditional SWOT vs an Action Oriented SWOT is the right tool for your needs.
SWOT Strategies from an Action Oriented SWOT
An action-oriented SWOT pairs internal factors (Strengths and Weaknesses) with external factors (Opportunities and Threats) to create action-oriented strategies. Refer to the video below for information on how to generate an Action Oriented SWOT.
Video 3. King Corporate – Ep7. Making It Rain, a lesson on generating an Action Oriented SWOT strategies
SWOT Strategy Names and Organizational Fit
An action oriented SWOT analysis is often abbreviated as TOWS. The SWOT strategies can also go by different names. Furthermore, as a final step of completing a SWOT analysis, it is necessary to choose which ideas are the best fit for the organization in order to prioritize the ideas generated. Different organizations tend to be bias towards different strategies depending on their current situation or aspirations. For more information on SWOT strategies, click on the hotspots in the interactive infographic below.
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Figure 3. Action Oriented SWOT Framework with Strategy Hotspots
Steps for Preparing an Action Oriented SWOT
Read the following table for the steps involved in generating a Action Oriented SWOT analysis:
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Action Oriented SWOT Example
Examples of Action Oriented SWOT (TOWS) analysis are become more abundant as this method gains popularity. To help get you started, here is an example:
Exercises
Exercise 3.1 Compose an Action Oriented SWOT
Compose an Action Oriented SWOT from the SWOT Analysis created in Exercise 2.2.
Exercise 3.2 Discussion Questions
- Compare your Traditional SWOT vs an Action Oriented SWOT charts. Draw conclusions on what strategies you would deploy as a result of the analysis.
- Challenge Question – The Action Oriented SWOT analysis generates 4 different types of strategies. In your organization, which type of strategy would you implement and why?
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Title: Lesson 3. Converting Business Insights into Actionable Strategies