Performance Evaluation and Management
SWOT (Strength, Weakness, Opportunity, Threats) analysis has been an important strategic planning tool since its introduction in the 1960s by Albert Humphreys and has since become an established standard for strategic planning amongst the business community. Schneiderman’s Balanced Scorecard introduced in the 1990s by Kaplan and Norton has found its application in providing objective, holistic business performance management tools.
Comparative SWOT Analysis Tool (known as ‘C-SWOT’) is a unique, interactive online tool facilitating organizational performance assessment objectives. The tool was developed in 2011 to harness the essence of Balanced Scorecard and SWOT Analysis. It is an objective, online-based, performance management evaluation tool for assessing and converging diverse viewpoint on contributory criteria to organizational value delivery.
Performance within multiple entities, branches, or suppliers can be compared against a set of predefined strategic KPI’s (Key Performance Indicators) and evaluated periodically. This tool is readily accessible online via the website: www.swotcompare.com
The tool offers an objective, ranked-criteria analysis along the following perspectives, to forestall potential or apparent impediment to accomplishing strategic objectives by identifying and prioritizing:
- Areas of Strength to sustain for continued growth
- Areas of Weaknesses which needs to be fortified
- Areas of Opportunities to exploit for value stream enrichment
- Areas of Threats demanding timely, responsive mitigation
The outcome of a comparative SWOT analysis for performance assessment offers a holistic report in multiple, chart-type options. The results can serve as a comprehensive substantiating basis to strategically devise and promptly implement appropriate actions.