SWOT analysishow it apllies Dejan Bokonjic Nenad Markovic

SWOT analysis-how it apllies Dejan Bokonjic Nenad Markovic Slobodanka Krulj Strengthening of Internationalization in B&H Higher Education 561874 -EPP-1 -2015 -1 -BE-EPPKA 2 -CBHE-SP

Definition �Creator of SWOT analysis is Humphrey �SWOT means: STRENGTHS WEAKNESSES OPPORTUNITIES THREATS �SWOT analysis is very efficient tool for analysis, understanding of current situation and bringing decision

Strategic management �Development of one institution is impossible without strategic management �Strategic management is using different techniques and methods: SWOT, portfolio matrix, estimation of future trends and benchmarking �Two major approaches in strategic management: macro and micro approach �Macro approach-wider approach. Focus is longterm trends, alternative scenario, prediction of future and so on… �Micro approach: from inside to outside

SWOT �SWOT provides recognition of positive and negative trends and provides possibility to react on time �It gives us information where is our organization in this moment , what is its advantage and weakness and what should be major threat and chance for future development �Usage of internal resources and possibilities from community �All modern strategies are based on SWOT analysis �PEST analysis (political, economical, social and

Importance of SWOT analysis �It gives possibility to institution to see where is it in the moment, to realize current trends, current and past success and failures, to prepare strategic development plan and position itself for the future Key elements of good SWOT analysis are; �Involvement-as many people as possible �Brainstorming �Thorough analysis �Follow up

Usage of SWOT analysis �Part of strategic planning: - Internal strengths - Internal weaknesses -Possibilities in wider community -Outside threats �It helps institution: - What institution is doing better than competition? - What competition is doing better than our organization? -Are we using our possibilities on the best possible way? -How our institution is reacting on external changes?

Usage of SWOT analysis �SWOT analysis is useless if there is no action plan afterwards!!!!!!! �SWOT analysis is important to reduce amount of data on those which can be used for good interpretation of current trends �It classified internal aspects as weaknesses and strengths and external aspects as possibilities and threats �Internal analysis is consisted of following factors: culture, image, structure of institution and organization, key staff, role in high education, financial sources and etc.

Usage of SWOT analysis and SWOT profile �External analysis is consisted of following factors: analysis of external trends, competition, new technologies, economical situation, political factors, relation to users and etc… �After SWOT analysis it is possible to create SWOT profile �SWOT profile is base formulation strategy, implementation of the strategy and introducing aims �SWOT analysis and TOWS matrix: connection between different factors: strengths vs.

Roles for usage of SWOT analysis �It has to be realistic in defining of strengths and weaknesses of the HEI �SWOT analysis has to clarify difference between current position of HEI and future goals �It has to be precise, to avoid grey zones �It has to be used for benchmarking �It has to be short and understandable �SWOT analysis is rather subjective

SWOT matrix

Plan of action 1. Planning 2. Implementation 3. Evaluation 4. Further planning 5. Further implementation 6. Further evaluation

Examples

Development of strategy �Forming team �Evaluation of current situation �SWOT analysis �PEST analysis �Defining strategic goals �Defining action plans �Responsibilities and time frame