Wednesday, March 30, 2011

SWOT Analysis

SWOT analysis is a strategic method which helps us make a decision or even solve problems. SWOT stands for: Strengths, Weaknesses, Opportunities and Threats.

Strengths are our advantages over others
Weaknesses represent our disadvantages in relation to others
Opportunities are the positive conditions in the external environment
Threats represent the unfavorable external circumstances

Once we set our SWOT analysis, one of the wisest things to do would be to convert our weakness into strength or even the threats into opportunities. My favorite example would be of an Ethiopian named Haile Gebrselassie.

Haile grew up in a farm where he had to run 10 km each day back and forth to get to the nearest school. Nowadays, he runs with his left arm bent because of being used to holding school books while running yet the difference is that he is now one of the greatest runners of all time; Haile has set so far 20 world records and clearly overcame his weakness and threats and made them into strengths and opportunities.
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