Strengths and Weaknesses
e preparation of a ve- year strategic plan for URHere’s micro credit
agency began by comparing the agency’s services to that of its competitors.
Results highlighted activities that its credit union performed better or worse
than its competitors. Table17.1 compiles input from the analysis.
e team identied internal factors that caused the credit union to excel
(strengths) and the factors that caused their ratings to be lower than competi-
tors (weaknesses). e external environment that provides opportunities and
threats was also reviewed to provide input for the SWOT (strengths, weak-
nesses, opportunities, threats) matrix shown in Table17.2.
A SWOT analysis for the selected process serves to validate the feasibility of the
goals and objectives set for the process. With SWOT, the process and its results
are compared with those of other organizations. e lack of information does
not limit the validity or cheapen the veracity of the SWOT.
e SWOT analysis shown in Table17.3 for the accounts payable process
was completed by following the ve steps that are discussed below:
1. Identify the internal strengths and weaknesses
2. Scan the external environment
3. Prepare the SWOT matrix
4. Develop strategies
5. Validate goals and objectives