These times bring more certainty than uncertainty.
Everyone is experiencing uncertainty from the Covid-19 pandemic, the black lives matter movement, unemployment instability, upcoming elections, etc … People assume we just don’t know because there is not a clear, absolute answer for any of these.
Wake up. You know more than you realize. You know more than you don’t know.
Life is not going back to the way it was in the 2010’s. Silicon Valley and New York City employers are increasing the number of people working from home. Vendors at traditional “cash only” events such as “Farmer’s Markets” now only accept electronic payments. Apps such as Paypal, Venmo and Stripe are moving us toward a cashless society.
This raises many questions. How do I navigate these shifts? If I was content with my business model, then why should I change?
Jim Collins addresses the need to change in his book, “Built to Last.” He says, “Companies that enjoy enduring success have core values and a core purpose that remain fixed while their business strategies and practices endlessly adapt to a changing world.” I was reminded of a tool to help you adapt during a recent conversation with an Associate Dean at a community college.
She shared threats they face from competition such as another higher education provider, Coursera. This competitor is offering free online courses for anyone, anywhere during the first four months of the pandemic. Imagine the advantage this creates to recruit prospective students. It creates uncertainty about the possibility of Coursera extending the timeframe for free courses. Will Coursera use the free course strategy for prerequisite classes to lure students into degree and certification programs?
There is certainty. The community college made a successful, temporary pivot to online classes to complete the Spring Semester. How will they adapt strategy and practices as Jim Collins demonstrates with visionary, enduring companies? A SWOT analysis is a strategic planning tool that clarifies the certainty for your organization to adapt.
The tool examines your organization’s strengths, weaknesses, opportunities, and threats. It shows how you fit in the current reality. For the community college, the SWOT clarifies their strength with the ability to create an online learning environment. They can develop practices and strategy to leverage it to compete with threats from institutions such as Coursera.
Below are three questions to guide you to adapt. You know more than you don’t know. You need to perform a SWOT analysis to adapt in this changing world. Ensure your organization endures and thrives. Schedule an appointment to register for a FREE session to identify the unique threats preventing your organization from enduring and reaching its full potential.
- What have you learned from the “Threats” to create a winning strategy?
- What pivot do you need to make to seize the opportunity you’ve learned from threats and weaknesses?
- What is a strength you can leverage during uncertain times?