Determine whether there are any constraints that require consideration or targets that must be met..
Within the situational analysis, be sure to do the following:
a) Identify the stated or implied mission, vision, strategic direction, and strategic goals.
b) Determine the key stakeholders’ needs and/or preferences.
c) Determine whether there are any constraints that require consideration or targets that must be met.
d) Scan the organization’s internal and external environments, and identify the strengths, weaknesses, general opportunities, and threats (SWOT).
Include an assessment of the organization’s current financial situation. Some tools that will help in identifying SWOT points include Porter’s Five Forces and PESTEL, as well as analyses of ratios, trends, profitability, target customers, target markets, variances, etc. Focus on identifying new SWOT points based on information not previously available and the results of the financial assessment.
e) Within the SWOT analysis, identify the competitive advantages and the key success factors (KSFs) for the organization and/or industry (i.e. the critical opportunities and strengths of the organization that must be maintained or enhanced in any suggested recommendations). Also identify the key risks (i.e. the critical weaknesses and threats that must be eliminated or mitigated).
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