Systematic Material for Group Discussion

[Subodh Kant]

In this thread i will discuss the strategies and management tools that will help you in Group Discussion like

SWOT Analysis
PEST Analysis
Drill Down
Cost Benefit Analysis
Concept Fan
Five Forces
Six Thinking Hats
The Reframing Matrix
Value Chain Analysis etc

most of these are analysis tools used in the MBA colleges and corporate sector.

Flow of the thread will be like this

Idea generation and analysis tools (discussion wih examples)
Situation/case for practice
analysis

topic

analysis of the topic


all are welcome to post here but try to follo the path discussed above.

[Subodh Kant]

SWOT Analysis

Discover new opportunities.
Manage and eliminate threats
SWOT Analysis is a powerful technique for understanding your Strengths and Weaknesses, and for looking at the Opportunities and Threats you face.

Used in a business context, it helps you carve a sustainable niche in your market. Used in apersonal context, it helps you develop your career in a way that takes best advantage of your talents, abilities and opportunities.

Business SWOT Analysis
What makes SWOT particularly powerful is that, with a little thought, it can help you uncover opportunities that you are well placed to take advantage of. And by understanding the weaknesses of your business, you can manage and eliminate threats that would otherwise catch you unawares.

More than this, by looking at yourself and your competitors using the SWOT framework, you can start to craft a strategy that helps you distinguish yourself from your competitors, so that you can compete successfully in your market.

How to use the tool:
To carry out a SWOT Analysis, print off the worksheet and write down answers to the following questions:

Strengths:

• What advantages does your company have?
• What do you do better than anyone else?
• What unique or lowest-cost resources do you have access to?
• What do people in your market see as your strengths?

Consider this from an internal perspective, and from the point of view of your customers and people in your market. And be realistic: It's far too easy to fall prey to "not invented here syndrome". Also, if you are having any difficulty with this, try writing down a list of your characteristics. Some of these will hopefully be strengths!

In looking at your strengths, think about them in relation to your competitors - for example, if all your competitors provide high quality products, then a high quality production process is not a strength in the market, it is a necessity.

Weaknesses:

• What could you improve?
• What should you avoid?
• What are people in your market likely to see as weaknesses?

Again, consider this from an internal and external basis: Do other people seem to perceive weaknesses that you do not see? Are your competitors doing any better than you? It is best to be realistic now, and face any unpleasant truths as soon as possible.

Opportunities:

• Where are the good opportunities facing you?
• What are the interesting trends you are aware of?

Useful opportunities can come from such things as:

• Changes in technology and markets on both a broad and narrow scale
• Changes in government policy related to your field
• Changes in social patterns, population profiles, lifestyle changes, etc.
• Local Events

A useful approach to looking at opportunities is to look at your strengths and ask yourself whether these open up any opportunities. Alternatively, look at your weaknesses and ask yourself whether you could open up opportunities by eliminating them.

Threats:

• What obstacles do you face?
• What is your competition doing?
• Are the required specifications for your job, products or services changing?
• Is changing technology threatening your position?
• Do you have bad debt or cash-flow problems?
• Could any of your weaknesses seriously threaten your business?

Carrying out this analysis will often be illuminating - both in terms of pointing out what needs to be done, and in putting problems into perspective.

Strengths and weaknesses are internal to your organization. Opportunities and threats relate to external factors. For this reason the SWOT Analysis is sometimes called Internal-External Analysis and the SWOT Matrix is sometimes called an IE Matrix Analysis Tool.

You can also apply SWOT Analysis to your competitors. As you do this, you'll start to see how and where you should compete against them.

[Subodh Kant]

Example:
A start-up small consultancy business might draw up the following SWOT or TOWS matrix:

Strengths:

• We are able to respond very quickly as we have no red tape, no need for higher management approval, etc.
• We are able to give really good customer care, as the current small amount of work means we have plenty of time to devote to customers
• Our lead consultant has strong reputation within the market
• We can change direction quickly if we find that our marketing is not working
• We have little overhead, so can offer good value to customers

Weaknesses:

• Our company has no market presence or reputation
• We have a small staff with a shallow skills base in many areas
• We are vulnerable to vital staff being sick, leaving, etc.
• Our cash flow will be unreliable in the early stages

Opportunities:

• Our business sector is expanding, with many future opportunities for success
• Our local council wants to encourage local businesses with work where possible
• Our competitors may be slow to adopt new technologies

Threats:

• Will developments in technology change this market beyond our ability to adapt?
• A small change in focus of a large competitor might wipe out any market position we achieve

The consultancy may therefore decide to specialize in rapid response, good value services to local businesses. Marketing would be in selected local publications, to get the greatest possible market presence for a set advertising budget. The consultancy should keep up-to-date with changes in technology where possible.

Key points:
SWOT Analysis is a simple but powerful framework for analyzing your company's Strengths and Weaknesses, and the Opportunities and Threats you face. This helps you to focus on your strengths, minimize threats, and take the greatest possible advantage of opportunities available to you.

Source: mindtools.com

[Subodh Kant]

Here is the worksheet of SWOT analysis

[nairpraveenk]

Good article. Waiting for the rest!!

[sid_dharth]

Hey Subodh

As usual gr8 initiative & a gr8 thread man!!!!

[warrior]

Originally Posted by Subodh Kant

In this thread i will discuss the strategies and management tools that will help you in Group Discussion like

SWOT Analysis
PEST Analysis
Drill Down
Cost Benefit Analysis
Concept Fan
Five Forces
Six Thinking Hats
The Reframing Matrix
Value Chain Analysis etc

most of these are analysis tools used in the MBA colleges and corporate sector.

Flow of the thread will be like this

Idea generation and analysis tools (discussion wih examples)
Situation/case for practice
analysis

topic

analysis of the topic


all are welcome to post here but try to follo the path discussed above.

sir jee you are simply awesome. Now how should I describe a person like you. No word seems to fit in.

[Subodh Kant]

Practice Question:

India should join hands with China to develope its North East States.

Do a swot Analysis

[Subodh Kant]

PEST Analysis : Understanding "Big Picture" Forces of Change

Why use the tool?

PEST Analysis is a simple but important and widely-used tool that helps you understand the big picture of the Political, Economic, Socio-Cultural and Technological environment you are operating in. PEST is used by business leaders worldwide to build their vision of the future.

It is important for the following main reasons:

• Firstly, by making effective use of PEST Analysis, you ensure that what you are doing is aligned positively with the powerful forces of change that are affecting our world. By taking advantage of change, you are much more likely to be successful than if your activities oppose it;
• Secondly, good use of PEST Analysis helps you avoid taking action that is doomed to failure for reasons beyond your control; and

• Thirdly, PEST is useful when you start operating in a new country or region. Use of PEST helps you break free of unconscious assumptions, and helps you quickly adapt to the realities of the new environment.

[Subodh Kant]

How to use the tool:

PEST is a simple mnemonic standing for Political, Economic, Socio-Cultural and Technological.

Using the tool is a three stage process:
• Firstly, you brainstorm the relevant factors that apply to you;
• Secondly, you identify the information that applies to these factors; and
• Thirdly, you draw conclusions from this information.

Tip:

The important point is to move from the second step to the third step: it is sterile just to describe factors without thinking through what they mean. However, be careful not to assume that your analysis is perfect: use it as a starting point, and test your conclusions against the reality you experience.

The following factors may help as a starting point for brainstorming (but make sure you include others that may be appropriate to your situation):

Political:

• Government type and stability
• Freedom of press, rule of law and levels of bureaucracy and corruption
• Regulation and de-regulation trends
• Social and employment legislation
• Tax policy, and trade and tariff controls
• Environmental and consumer-protection legislation
• Likely changes in the political environment

Economic:

• Stage of business cycle
• Current and project economic growth, inflation and interest rates
• Unemployment and labor supply
• Labor costs
• Levels of disposable income and income distribution
• Impact of globalization
• Likely impact of technological or other change on the economy
• Likely changes in the economic environment

Socio-Cultural:

• Population growth rate and age profile
• Population health, education and social mobility, and attitudes to these
• Population employment patterns, job market freedom and attitudes to work
• Press attitudes, public opinion, social attitudes and social taboos
• Lifestyle choices and attitudes to these
• Socio-Cultural changes

Technological Environment:

• Impact of emerging technologies
• Impact of Internet, reduction in communications costs and increased remote working
• Research & Development activity
• Impact of technology transfer