SWOT Analysis
SWOT stands for Strengths, Weaknesses, Opportunities and Threats and is a technique used to assess these four aspects with the artists' skillset. The artist carried out a SWOT analysis at the start of the academic year and will complete another one at the end of semester 1 to ascertain what additional skills and knowledge they have achieved within that timeframe which will help them complete their major project.
While making the lists within the SWOT analysis the artist will notice connections and contradictions between the 4 different categories. This is due to the thought process they will go through when filling out 1 category as that process with also link parts to another category. Doing this is will allow them to highlight and explore all avenues within the individual categories.
The best way to complete a SWOT is not just to use your information but to collect a variety of data from other individuals and use that with your own to build a more insightful list of observations.
Strengths
A strength is something that gives the artist a clear advantage. They are things the artist does well at or things that make them stand out from the rest. What advantages does the artist have over others within her field of work and study? The artist's strengths are an integral part of them and their business so, they need to consider what makes them and their business different from the rest? What drives the artists business? Are they passionate about their career is this a strength they have over others? What unique selling points do they have that others don’t? these are all strengths that they should be adding to their SWOT and are all things that over time will change and increase.
Weaknesses
A weakness is something the artist needs to improve on to make it a strength. This could be anything from their skills and training to their time management. The artist must be brutally honest in this section as without honesty they will not be able to grow within themselves as an artist or within their business. they must be realistic and face any unpleasant truths so they can assess them and begin to plan to change them to strengths.
Opportunities
The opportunities which the artist will have can vary throughout a year, but they are openings or chances where something positive can happen. However, the artist must be willing to grab them any chance they get as they will not just appear out of thin air. Opportunities are usually found from outside sources and require the artist to have a keen eye for detail. Where could the opportunities come from for the artist? It could be from developing their skillset within their industry or through technology and how they use it. All the artist must do is be able to spot an opportunity and exploit it to their advantage. The opportunities they find do not need to be game-changing, even small advantages can increase their chances of succussed within the industry and in their major project.
Threats
These are things that can negatively impact the artist. These can be anything from suppliers missing deliveries or stock not being available. For their major project, it could be team members being ill or having to pull out at short notice. Therefore, the artist needs to be able to anticipate these kinds of threats so they can take action to plan for them before they happen.
The artist can use SWOT analysis to assess their position before they take on new work projects or studies. This allows them to find out what works well and not so well for them as an individual before committing to something new. From the data, they collect they can decide where they want to go and how they might get there.
As you can see from the artist September Swot analysis, they already have a lot of strengths that will help them during their major project, however, they are lacking in some vital roles such as time management and project management. These are potential weaknesses that could become an issue if not resolved.
From the data within the artists September SWOT, they can analyse what they are doing right and what areas they need to work on. They can also see what areas are holding them back from achieving more within their work. From this, they can put together a strategy for the future. Within the SWOT it examines both internal and external factors within the artists business. This will allow the artist to put some clear strategies together to further their training and career which in turn will help within their major project. There, however, maybe some areas that are out of their control but that does not matter as it will highlight them and allow for the artist to plan accordingly.
When looking at the SWOT again towards the end of semester 1 the artists can look at each section again and consider the following
Strengths
What do they do well now compared to September? What key things have others said are their strengths? Have they gained anything since September, or have they remained the same? If they have remained the same, they can look at what is holding them back and work on these to see more improvement.
Weaknesses
What can they improve on still from September? Have they improved on anything since September? If not, why? What is holding them back in this area? They can now put a plan together to make their weaknesses a strength in the future.
Opportunities
What opportunities have come about since September? Are these opportunities now strengths to them as well within their major project? What other opportunities have they had or what strengths could turn into opportunities? Look at what else they could do to open new opportunities.
Threats
Are September’s threats still the same now or have some change? What new competition has come about since your last SWOT? Do their weaknesses expose them to more threats now? How can this be altered to reduce the threats?
In comparison between the 2 SWOT Analysis’ between September and January, we can see The artist has gained a lot of new strengths and reduced what weaknesses they had. This is a massive improvement as it greatly reduces the risk of competitors using their weaknesses to their advantage. The weaknesses which are left unfortunately will not change at present due to them being held and family-related. New opportunities have also been added due to networking and collaboration.
After looking back at all the data from the 2 SWOT analyses’ the artist can now build on their strengths and try boosting their weaknesses to create more strengths. They can also look at more opportunities and see threats coming before they affect them. Will their current and new strengths open doors for new opportunities in the future? Or would more opportunities open up if there were fewer weaknesses and threats?
Keep reading to find out….
Reference List
Liveplan.com, What is a SWOt Analysis and how to do it right, Noah Parson, February 2nd 2021. Accessed at: https://www.liveplan.com/blog/what-is-a-swot-analysis-and-how-to-do-it-right-with-examples/ Accessed on: January 5th 2022
Mindtools.com, SWOT Analysis, Understand your Business, informing your strategy, Mindtools content team (n,d). Accessed at: https://www.mindtools.com/pages/article/newTMC_05.htm Accessed on: January 5th 2022
Figure List
Figure 1, SWOT Analysis
Accessed at: https://www.liveplan.com/blog/what-is-a-swot-analysis-and-how-to-do-it-right-with-examples/ Accessed on January th 2022
Figure 2, September SWOT Analysis, K. Ellison 2021
Figure 3, January 2022 SWOT Analysis, K. Ellison 2022
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