ADDING AN "s" TO SWOT Loading...
- START WITH THE BIG PICTURE, THEN FOCUS ON THE FIRM: The sSWOT begins with threats and opportunities and pushes teams to think beyond the company’s four walls. It emphasizes connections between environmental challenges and other trends creating big changes in future markets. After starting big, the sSWOT analysis narrows to the company level by drawing connections to strengths, weaknesses, and priority action items.
- THINK BROADLY TO CREATE NEW VALUE OR ASSESS VALUE AT RISK: The sSWOT focuses on how environmental threats impact not just the company, but other important stakeholders, like customers and communities. These can represent risks, as well as opportunities to create new solutions for the business and the environment.
- FIND A “COLLABORATIVE EDGE” BY LEVERAGING CORE COMPETENCIES AND ADDRESSING VULNERABILITIES WITH PARTNERS: The sSWOT emphasizes strengths that a company already has and those a company can build by collaborating with others (companies, customers, suppliers, communities). Likewise, it emphasizes weaknesses that a company can address with other stakeholders (and in some cases, competitors).
BUSINESS THOUGHT LEADERS: THINK BIGGER AND BROADER TO FIND RISKS AND OPPORTUNITIES
THINK BIGGER AND BROADER TO FIND RISKS AND OPPORTUNITIES
A study by the MIT Sloan Management Review and Boston Consulting Group showed that companies deriving profits from their sustainability efforts are far more likely to be taking a collaborative approach as they tackle environmental, social, and economic challenges (see Kiron, et al., 2011). They are increasing collaboration across business units. They are engaging customers, local communities, suppliers, policymakers and even competitors. Toyota, as one example, has created partnerships with traditional rivals like Ford and BMW to combine expertise and advance clean vehicle and battery technologies.